When Hiring a Financial Advisor

Wall Street Journal

Journal

An important characteristic of a successfulphysician is self-discipline, but when itcomes to investing, many don't have thetime or know-how to get their finances onthe right track. For many physicians, seekingprofessional help is the best solution to thisproblem. However, hiring a financial advisordoes not always benefit a physicianinvestor'ssituation. According to a recentarticle in the , you needto put in due diligence to avoid crooked ormediocre advisors who will make you wishyou kept your savings stuffed under yourmattress. The recommends pursuingfee-only advisors to ensure they have anincentive in the advice they give you. Stickwith certified financial planners or thosewho have qualified to be chartered financialconsultants, chartered financial analysts, orcertified public accountants. It is also importantto make sure that your advisor is committedto assisting you with other areas inyour life, such as your mortgage, collegecosts, insurance, taxes, and estate planning.The following Web sites are a startingpoint to find an advisor who best fitsyour needs: www.cfp.com, http://pdpi.nasdr.com/pdpi, www.feeonly.org, orwww.garrettplanningnetwork.com.