Are financial planners strictly for individuals and families with considerable assets or are they open to all?
“Financial planners are not just for persons with considerable assets,” said FPA member Melinda Warren, CFP®, of Hughes Warren Inc. “Financial planners do meet with persons with considerable assets, but many of them also meet with persons who have limited investible assets. A financial planner may meet with individuals who may be very young, persons who may not have saved enough through the years for their retirement or various other reasons but see a real need to assist them so that they can prepare these individuals for their retirement years. Just because someone has limited assets is typically not a reason NOT to meet with them. Financial planners typically meet with individuals not only to help plan for their retirement, but inquire also about their life insurance needs, debt load and if they have current wills or trusts. It is typically a comprehensive plan that can include several topics of financial planning.”