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Indianapolis Financial Planner

 

The biggest factor in your success in creating and maintaining wealth is how you manage it. There are many ways to ensure a fruitful wealth management in Indianapolis, Indiana. You can do it by yourself, or you can leverage the services of a financial planner in Indianapolis to make things easier and a little less complicated for you.  indianapolis broad view financial planning

If you plan to do the latter, know that there are several things you need to consider when looking for an Indianapolis certified financial planner. In this article, we'll cover some of the basic steps you can follow to find one who can help you in managing your wealth. By the end of this article, you will be equipped with the information that you need in finding the right financial planner for you.

 

Know the Difference Between Financial Planning Services

There are many types of financial management services. Some financial advisors may offer the broad-based financial planning approach for Indianapolis residents. There are those who may specifically offer investment management services alone while others may provide financial planning services only. Some Indianapolis retirement planners may offer services that are more focused on the accumulation phase than the distribution phase. These two are very different depending on your age and when you plan to retire.

The services differ in so many ways. That's why it is important that you know and understand your financial situation, what your goals are, and the services that you intend to receive. There are three main services that you need to know. These are financial planning, investment advisory services, and retirement income planning.

  • Financial planning does not only focus on investments, but it also includes most if not all of the aspects of your financial life. This means how much you should save, the kind of insurance you should get, etc.
  • Investment advisory services focuses on investment management functions. The advisor will suggest to you investments and in which accounts.
  • Retirement income planning is about coordinating all the pieces like pensions, investments, taxes, social security, retirement date, and others, and align them toward your goal of having a steady retirement paycheck.

 

Check the Reputation of the Financial Advisor

Not all credentials are the same. There are some organizations that provide credentials that can be acquired for a fee by sales people so that they can appear to be experts in their fields. This is why you should be careful and double check the credentials of your financial advisor.

Look for a financial planner who has a PFS or CFP designation. For an investment advisor, find one who has a CFA. If you're looking for a retirement advisor, look for someone who is trained specifically for retirement planning and has an RICP or RMA.

These designations are not just mere letters after a name. Advisors need to go through examinations and pass them to be able to demonstrate that they are indeed proficient in the subject matter and can provide assistance with asset management for Indianapolis families. Lastly, check if your Indianapolis financial planner is a member of the NAPFA. This is a membership group that requires the advisors to have continuing education in their field of expertise.

 

Do Your Research

These days, researching online is easy. Simply google the names of the financial advisor. Are there any complaints about them? This can make the task of looking for a good financial planner in Indianapolis less complicated. You can screen those planners with a good reputation and create a shortlist of whom you will reach out to. If you work in a specialized field like medicine, make sure you find an Indianapolis financial planner who specializes in working with doctors.

Another step you can take is to ask your family and friends for recommendations. You can ask them about their experiences with a certain financial planner, what the expected rates are for their services, and how well things have been going for them.

 

Takeaway

Now that you know the basics of looking for a financial planner in Indianapolis, you are only a few steps away from growing your wealth through proper financial planning. If you have never consulted with a financial planner before, now is the right time to do so.

If you have any questions about which financial planning services is the best one for you, simply contact us, and we’ll certainly get back to you shortly. Invest in your future today!