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So you’re ready to take control of your financial health with the help of a professional. Good move.
According to the Financial Planning Standards Council (FPSC), Canadians with comprehensive financial plans reported higher levels of: financial well-being 85%; emotional well-being 62%; and 45% greater overall contentment than those without a plan.
With more than 17,500 Certified Financial Planners (CFPs) across Canada, Ashton College Financial Services instructor Becky Wong recommends interviewing a few first. “When researching, find the right CFP for you. Ask them how many years of experience they have, what area they specialize in (tax, estate planning, retirement etc.), and what their typical clients look like.”
Your planner really needs to understand your goals, so it helps if they specialize in clients in a similar financial situation or stage of life as you. The best planner-client relationships are where both parties communicate clearly and regularly, and there is a high level of trust.
When choosing a financial planner you should also: