10 Easy Steps to Financial Wellness
“When we get sick, we see a doctor,” says Robert R. Johnson, Ph.D., CFA, CAIA and professor of finance at Creighton University’s Heider College of Business. “When we get into legal trouble, we hire a lawyer. But somehow people think they should be able to,” navigate the increasingly dangerous financial waters without professional help. “
While seeking professional financial advice is a smart move, according to Johnson, not all financial advisors are created equal.
“Only those who have recognized financial credentials such as a Chartered Financial Analyst (CFA) or a Certified Financial Planner (CFP) should be considered when looking for a financial advisor,” said Johnson. “These individuals are proficient in complex knowledge, have passed a comprehensive exam (or, in the case of a CFA charterholder, a series of exams) and are committed to adhering to a code of ethics. The person must be a trustee – that is, put the interests of their clients first. If a potential financial advisor isn’t a trustee, look elsewhere. If a financial advisor isn’t a trustee, run away! “
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