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Single female seeks planner for long-term relationship

by | Jul 13, 2012 | OTHER, SELF-PUBLISHED

Q – I am a 35-year-old single female, and I have a good grasp of investing. I currently hold all my investments through a self-directed brokerage. I do need help with some planning, and I have met with a few potential advisors. But most want my investments to manage and I am not comfortable with that. Do you know where I can find help with the planning side? – Yvonne T., Toronto, Ontario

A – I recommend that you look for a fee-for-service financial planner. Financial planners are skilled at helping you to create specific measureable goals for your financial future. The objective of a good financial plan is to maximize the value of your financial resources to achieve your goals.

There are a series of steps that are used to come up with a financial plan, which typically include a budget, short-term and long-term savings strategies, debt reduction, tax planning, investment planning, insurance needs analysis, and estate issues.

These types of planners receive direct compensation from you, generally at a rate of $100-$250 an hour. Seek the advice of a qualified financial planner with the Certified Financial Planner (CFP) designation. Ask family or friends if they can refer someone. Often your accountant or lawyer will have a relationship with a financial planner they trust. To cast a wider net, the Financial Planners Standards Council has a section on its website you can use to help locate a planner. – R.T.

Robyn Thompson, CFP, is the founder of Castlemark Wealth Management, a boutique financial advisory firm, specializing in customized financial, investment, insurance, and retirement planning. She appears regularly as a financial planning expert on CityNews Channel. Phone 416-828-7159 or email today to for a no-obligation, no-charge Castlemark Integrity Financial Planning consultation.

Got a question on investments, financial planning, or portfolio management? Click here.

© 2023 by Robyn K. Thompson. All rights reserved. Reproduction without permission is prohibited. This article is for information only and is not intended as personal investment or financial advice.

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