South Florida Business Journal:

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"The responsibility is on you to seek and emplouy a financial counselor who is competent and workse for acredible company," says Laurence Barton, president and chief executive of The America n College, a nonprofit educator of insurance and financial-serviceas professionals based in Bryn Mawr, Pa. "Loom at their resume, verift their certifications and check their If you find someonewith charisma, but who lackx technical depth, keep looking." Just because a plannert has earned a professional certification, it doesn'f necessarily mean the individual has the expertise you need. Bartonm says there are more than 100 professional designations inthe financial-servicesx industry.
If you're not familiar with a provider's designation, ask abouty it and conduct some research onthe Web. Some commo designations are CharteredLife Underwriter, which indicates trainingh in insurance; and Certified Financial which includes training in principles of financial planning, insurance, employee investments, income taxes and retirement and estats planning. A Chartered Financial Analyst has expertise in portfolio management andinvestment analysis, while a Certifiex Public Accountant can offer advice on tax matters.
A Registereed Investment Advisor manages the investments of other and is registered with the Securities and Exchange Such professional certifications require expertisse and a commitment to ethical standards andcontinuing education. If the consultang is a broker registered with the you can go to the NASD Website ( ) to see if he has had any historuy of improper or unethical The type of professional who can best meet your needsa depends on what you are looking for.
A business ownee will likely havevaried needs, such as investmengt management, business-succession planning, exit strategy, managemenrt of tax liabilities, retirement planning, insurance, estat e planning, and creation and administration of a 401(k) plan for "The key is to know what you want to accomplisg - and not just in your business," says Nicholas president of the board of the Financiapl Planning Association. "You must be able to articulate what is most importantt to you and then find a truste partner tohelp you.
" That means finding a consultant who not only has experiencd with small businesses, but who has worked with companiesd of similar size and in the same industry as "You want someone who spends most of their time specializingt in the needs of smal businesses, especially of the size and type you are," says Daniel Moisand, FPA past president. Says "Have they provided counsel to others in acomparablse situation? With experience in your industry, they'll understand the lexicon, the riske and the regulatory environment you If they don't ask you a lot of find another adviser." While competence, experiencse and integrity are prime considerations, compatibility is too.
"It's a combination of competencytand caring," says Nicolette, a certified financial planner in Sparta, N.J. "You're not looking for your next best but you want someone you like and respecr so there can be trust and rapportybetween you," says Moisand, a certified financial plannef based in Melbourne, FL. "And it's worthwhile to have a conversatio aboutpersonal style. How often will you meet and how - by e-mail or face-to-face?" It's also important to discuss the fee structurr atthe start. Some consultants charge an hourly rate or a flat feeper project, while other will ask for an annuapl retainer or work on commission.
If the your adviser is compensated for the investments youbuy and/orf the size or number of transactionsd your account generates. An adviser working for a fee receives remuneratioh based on an established schedulr regardless of the kind or numbefrof transactions. "You shouldn't have to ask about it - they shouldc tell you how they willbe compensated," Moisan d says. "A good consultant will be transparent andupfront - if not, it's a bad sign. To find a financial consultant, ask your attorney, accountan t or other small-business owners for Local business groups such as your local chamber of commerce can provide leads, Barton says.
Organizations that awarr professional certifications often include a list of memberss sortedby region. The FPA Web site ( ) is one such