#Financial newsletter expert professional#
Nor is it to suggest that professional accreditations are the be-all and end-all of dispensing financial advice. Some family lawyers, for example, acquire a thorough grasp of financial and estate planning, as do many investment and insurance advisers. That's not to say that any given adviser isn't equal to tasks beyond his or her traditional calling – many professionals expand their practice into related areas as their knowledge and experience grow. Other advisers can have a much narrower focus.
Most financial planner designations (like CFP or PFP) require the study of a variety of subjects related to personal finance, but even these well-rounded professionals may seek the assistance of someone else with, say, specialized investment or insurance skills. If, for example, you want help managing your investment portfolio, an accountant wouldn't be your first choice if you're looking for health insurance, an investment rep may have little to offer. And how can these people help you navigate all the changes in your life?ĭifferent advisers will have differing skill sets, so which one is best for you will depend largely on your circumstances and needs. But with a myriad of professional advisers out there now, to whom should you turn? What do such designations as CFP and PRP mean? (Answer: Certified Financial Planner and Professional Retirement Planner). More than at perhaps any other time in your life, some skilled planning advice could be invaluable. And you have to make lots of decisions within a relatively short time to ensure security in your golden years. Retirement is a time of change: Paycheques give way to government benefits and pensions, savings must become sources of income, tax rules become trickier.
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