PRESIDENT’S MESSAGE
The Importance of
Financial Planning
“
By Jacquelyn H. Saylor
The Saylor Law Firm LLP
[email protected]
“Make sure you research who
you are dealing with before
you engage someone as a
financial planner. Too often
we have read in the paper
about a former sports star’s
bad choice of advisors...”
N
o matter how much money you make, you need to
spend and invest it wisely. It helps to get the advice of
professionals.
Make sure you research who you are dealing with before you
engage someone as a financial planner. Too often we have
read in the paper about a former sports star’s bad choice of
advisors or the friendly financial advisor at a local church
who defrauded members of the congregation out of much of
their savings.
The letters and titles after financial planners’ names indicate
a wide range of ability and expertise. What is their education
and experience? What requirements did they have to meet
to get the letters behind their name or to obtain a certificate.
A Certified Financial Planner (CFP) is a well-known type of
financial planner. Some attorneys work as financial planners
or they obtain certificates so they can guide their clients who
already have financial planners. CPA’s often work as financial
4 THE ATLANTA LAWYER
January/February 2015
planners; a board certified CPA is a Personal Financial
Specialist (PFS).
Many financial planners are investment advisors; you can get
important information about registered investment advisors
on the Financial Industry Regulatory Authority (FINRA) home
page. The home page has a “Broker Check” tool you can use
to search them by their name, the name of their firm, their
registration number, or your zip code. It will provide you with
a detailed report, which contains the advisor’s qualifications,
complete registration history and previous employers. It
also contains any disclosure events such as certain criminal
charges, customer disputes, and unpaid judgments or liens.
If you require additional information not in the report, they
encourage you to contact Georgia’s state securities regulator:
Tom Zagorsky (404) 656-3920 http://www.nasaa.org.
When meeting with a financial planner, you will be asked for
your sensitive financial information. Try to make sure that
The Official News Publication of the Atlanta Bar Association