how to find a CFP?

[elessar78]

Certified Financial Planner... I googled and all the ones that came back either through a CFP.net or on it's own are affiliated with outfits that sell financial products. It makes me doubt their impartiality and ability to give advice independent of their own interests.

thoughts?

[kork13]

In general terms, you absolutely have the right idea. Be very wary of any financial advisers who try to sell you into particular investment products, particularly those through which they (the adviser) receives commissions & related kick-backs for your money. One of the (many) questions you should ask any potential adviser is exactly how they are compensated. You probably want someone who is a "fee-only" provider, as in, the only compensation they receive comes from the hourly fee that you pay them.

Another *potentially* okay method of compensation for a CFP is could be as a salaried adviser whose income doesn't change regardless of what you do or don't do with your money, or *possibly* someone who is only paid as a percentage of your assets under their management (but regardless of HOW that money is invested).

These second two can be a bit treacherous, because either in the first case (salaried), they might be restricted to only investing your money within their company's investments (or some other affiliated company), or in the second case (by assets under management), they may try to convince you to bring more assets under their management than you intend (such as advising you to transfer a 401k to an IRA under their care, vs. leaving it where it might be performing just fine (thus increasing the amount of your assets under their management, a la their annual fees, which are normally .5%-2% per year of assets under management).

NAFPA.org <-- association of Fee-Only CFPs.

garrettplanningnetwork.com <-- another one.

These are the two that I see recommended most often. I've not used either, however, so unfortunately I can't vouch for them personally... Certainly there are some who call themselves "fee-only", but may still receive compensation from other sources beyond your fee. But if you go into your search with your eyes wide open, you'll at least know what to look for in finding a truly (or at least mostly) impartial and independent adviser.