When some people want to make financial plans, they seek a financial planner in Minneapolis, MN. Financial planning professionals can advise people on various matters related to their financial well-being. Many financial planners work for a fee or percentage of assets under management. They are fee-only financial planners and can offer more objective advice than broker/dealers that earn commissions on the products they recommend. Fee-only financial planners can give you more objective advice than brokers because they have fewer conflicts of interest. A Fee-only financial planner in Minneapolis, MN can give you objective advice based on your goals for your family and your future.
What a Financial Planner Does
People often hire a financial planner in Minneapolis, MN to help them set goals and make a financial plan for the future. These professionals can assist with various aspects of financial planning including retirement planning, investment planning, asset and income protection planning, and income tax planning. They also offer estate planning so you can determine what happens to your assets after you are gone. When you meet with financial planners, they will review your financial situation and learn about your financial goals. Then, they will develop a comprehensive financial plan to help you achieve those goals.
What to Expect
If you are looking for an objective financial planner in Minneapolis, MN that works only for your best interests, make sure that they are a fiduciary and offer fee-only services. Being a fiduciary means that they are required by law to act in your best interest. Fee-only means that they charge a flat rate or fee based on assets under management. They do not earn commissions on the products they recommend. When it comes to investing, expect fiduciaries to offer advice based on your specific goals. Everyone has different plans for how they want to spend their retirement years, and your financial plan should reflect yours.
