In this current economic environment, you may be thinking you can’t trust
anyone else with your money. You may think you’re better off handling your own
finances. But with this frustrating turmoil, it is more important than ever to
have an expert financial planner and investment manager on your side.
Fortunately, there is an entire organization whose members have committed
as fiduciaries to keep only their clients’ best interests in mind when
conducting their services.
The organization is called the National Association of Personal Financial
Advisors, or NAPFA, and its group of focused members has signed a commitment to
put their clients’ interests above their own. Among more than 30,000
professional Certified Financial Planners, only about 1,500 of them are willing
to make the required commitment to become part of NAPFA. These are the
professionals you need to look to when seeking investment management services.
These are the professionals you should trust with your money.
“Brokers at many of the large national financial firms are essentially
sales people, trying to earn commission by selling their clients the latest ‘product’
the firm is pushing,” says Martin Hopkins, president of Hopkins Investment
Management and a long-time advocate for integrity within financial planning.
“NAPFA members must meet certain qualification requirements, and we
recognize that it is in our best interest to give our clients the best advice
possible, in order to grow and succeed with them.”
NAPFA “fiduciaries” work as fee only, meaning they don’t receive
commission, kick-backs, or benefit of any kind, seeking instead to focus solely
on the best investment strategies for their clients. Income source is fully
disclosed and is usually a percentage of assets managed, putting them on the
same side of the table as their clients. Many of the brokerage firms, on the
other hand, claim to operate as “fee-based,” but it is little more
than a thinly veiled attempt to hide the fact that they can also earn
commissions on the investments they recommend to clients. This attitude is
exactly what has contributed to the slow implosion of the global financial world.
“Independent fiduciaries like those within NAPFA are not beholden to
sales goals and demanding executives who see numbers, not people,” adds
Hopkins. “We like to think of ourselves as professional counsel,
personally working with our clients to provide an ongoing service that takes
everything into account, from college and retirement planning to estate
planning and beyond, with a holistic approach to managing and growing what each
individual client has and currently earns, as well as any future earning potential.
It may be tempting right now to try to handle your financial planning on
your own. But in order to succeed, it is far safer to have an expert on your
side. The key is in finding someone you can trust with your money, and that is
NAPFA’s sole purpose. It’s about putting you at ease with the assurance that
you have placed your future in the hands of someone who knows how important … Read More