6 Steps To Hiring A Financial Planner


Photo: JP in TX

Resolved for the New Year: I will not make a financial plan for my future in 2012.

That’s the disturbing finding of a survey showing that 80% of Americans won’t focus on financial planning this year–the highest percentage found since Allianz Life Insurance of North America started asking about this three years ago in an annual New Year’s resolution survey.Why? The largest group of nonplanners–35%–said they “don’t make enough to worry about it.”

A sizable share of financial advisors might agree. 40 per cent of advisors focus on clients with more than $500,000 in investable assets, according to a survey by Cerulli Associates in cooperation with Morningstar.

But that doesn’t mean planning isn’t accessible to folks with less wealth. 30-five per cent of advisors told Cerulli they focus on clients with assets ranging from $100,000 to $500,000, and many will dip below that range–some even will do one-shot plans for as little as $1,000.

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