What is a financial planner?A financial planner is one who helps manage money and is involved in the overall success in achieving needs and goals. financial goals and which will guide everyone towards a better and more assured retirement. The financial planning process is as follows:1. Determine financial situation2. Develop financial goals3. Identify alternative courses of action4. Evaluate your alternatives5. Create and implement your financial plan6. Review and revise your plan. (1) Careers in Financial Planning There are a number of careers in financial services and two that are growing and essential in the field of finance are Financial Advisor (FA) and Certified Financial Planner (CFP®). An FA may hold some of the same licenses as a CFP®; however, the CFP® will have additional knowledge and skills to distinguish between the two, and people who want a financial planner they can trust and know their money is in good hands will select the more qualified worker. Clients can reference their desire for a CFP® who is a fiduciary; putting customers’ needs ahead of their own. “Broker-dealers and advisers should be bound by similar fiduciary standards,” commented Arthur Levitt Jr., former SEC commissioner (2). Many financial planners are also registered as investment advisors or hold insurance or securities licenses that allow them to buy or sell products. Ethical financial planners should send you to a more specialized financial advisor for services they cannot provide and should disclose the referral fees they receive in the process. These advisors should also refer you to a planner if they cannot meet your financial planning needs. One of the problems of becoming a financial planner is deciding which car...... middle of paper ......f your compensation is based on selling products?o Yeso NoExplain :c. Do the professionals and sales agents you can refer me to send you business, fees or any other benefits?o Yeso NoExplain :d. Do you have an affiliation with a broker?o Yes No No. Do you own or connect with another company whose services or products I will use?o Yeso NoExplain:16. Do you provide a written customer engagement agreement?o Yeso NoIf no, why not? (5)Resources cited(1) Kapoor, Dlaboy, Hughes. Personal Finance, 8th Edition. Page 5 (2) “The Merrill rule”: a bad deal for individual investors. www.bloomberg.com. 11/7/06.(3) www.sec.gov(4) Gevlin, Kathy. "RIAs denounce 'Merrill Lynch' rule." November 1, 2005. (5) Checklist for interviewing a financial planner. http://www.cfp.com/learn/knowledgebase.asp?id=8