Marc Linsky’s idea of financial planning is the process of creating the right plan for you and your family’s future. Proper financial planning helps with short- and long-term goals and helps with decisions to make the most of a family’s financial resources. A financial planner can help clients with all types of financial planning, such as taxes, insurance, and estate and retirement planning.
So why should your financial planner be certified? Marc Linsky says in today’s fast online world, anybody can call themselves a financial planner. In the past, Marc has seen many so-called financial planners come and go. “Some of these people will push certain investments onto their clients and not tell the client that they earn a commission from selling them,” Marc Linsky says. Others may not have just the right experience to properly advise you on the right type of planning for your situation. “And others still,” he adds, “don’t have the ethics needed.” For this reason, without credentials, it’s hard for the average person to know who to trust for their financial future.
That’s where the Certified Financial Planner (CFP) designation comes in. Marc Linsky says in today’s world, it’s just too risky to take a chance on someone you don’t know, and it’s time-consuming to research someone’s history and perform a detailed background check to find the right person to advise you. “It’s so much smarter to look for the credentials of the CFP designation,” Marc Linsky says.
CFP professionals have been through specialized education, rigorous testing, and real-world experience and work for their clients’ best interests. “This is something not all financial planners have or do,” Marc says. It’s so critical to the industry now, Marc Linsky adds, that even lawyers and accountants are getting this designation. It’s no longer “good enough” to be an average estate lawyer or an accountant. Marc Linsky says to find the right person to provide the very best advice for your specific situation, look for the CFP initials behind his or her name.
The Certified Financial Planner (CFP) designation is awarded to distinguished professionals by the Certified Financial Planner Board of Standards, Inc. (CFP Board). This professional certification is a formal recognition of expertise and high professional standards within the financial planning industry. It is recognized as the standard of excellence for competent and ethical personal financial planning.
When you understand what they go through to earn that certification, it’s no secret why the CFP designation is so coveted. Marc Linsky says to get this designation, members must go through four strict requirements first. “For the exam part,” Marc Linsky continued, “we have to undergo some pretty intense training.” This education is in addition to the four- or six-year degree we have previously earned, Marc Linsky adds. The experience requirement ensures that the professional has enough previous financial planning experience, and the ethics requirement ensures CFPs must abide by the CFP Board’s strict code of ethics. “Then, for the education part, we need to complete at least 30 hours of continuing education each year to stay current,” Marc Linsky says. “Overall, it’s a pretty rigorous certification, but it’s to ensure the safety and well-being of the public, and I’m passionate about getting the word out since it’s such a big part of my life.