When should I get a financial planner? How do I find a financial planner I like? These are some of the biggest personal finance questions we’ve gotten over the years — but I’ve never hired one, so I asked Corporette editor Kate Antoniades to ask the experts for us. This is her first post for Corporette, so a big welcome, Kate! (If you prefer to manage your own money like me, we’ve talked about some of the best starter personal finance books, how to manage multiple accounts, and even what our general money roadmaps look like.) – Kat.
How do you find the right financial planner? And once you do, then what? Reader K, one half of childfree couple (also known as DINK, double-income-no-kids), asks:
My husband and I are early 30s, both professionals, and we are what are considered a childfree couple. We’ve known for many years that we don’t want to have children. We’re at a stage in our lives, financially, where we’d like to consult a financial planner to start mapping out our next money moves. The thing is, we can’t seem to find anyone who might specifically cater to childfree couples. The considerations are different than those with children — estate planning comes to mind first and foremost — and yet, the closest we can get is the LGBT financial planning niche, where the considerations are still not quite the same. Long term health planning is not one of the concerns we find most pressing, actually, so we’re more focusing on retirement and estate planning.
This is a great question that most likely applies to many Corporette readers. Here are the answers to some common questions about finding a financial planner to meet your needs:
Do I need a financial planner?
Choosing to work with a financial advisor is a smart move, says Farnoosh Torabi, financial expert and author of When She Makes More (she recently shared some relationship advice for women breadwinners). “A financial planner can help prioritize your spending, saving, and investing to help you achieve your goals.” He or she can also act as a mediator for couples who are having disagreements about money, she says.