Financial planning involves many facets of money management -not just deciding on whether or not to invest in a particular stock, or whether investing in a certain class of high yield investment programs would fall within your risk threshold. Financial planning usually begins with the big picture: your financial goals, your current, near-term, and long-term cashflow requirements, and your long-term fiscal goals leading up to, during and beyond your retirement.

Your financial planner should have a good working knowledge of the many areas of financial planning -including budgeting, estate planning, insurance, investing, retirement planning, and taxation. These kinds of major issues are best addressed with the help of a good financial planner. A good financial planner can not only help find answers these big financial questions, she can be of great help in your quest for a secure financial future.

Before you retain a financial planner, however, you may want to interview at least three to five well-qualified financial planners. Here is a short checklist to help you decide whether or not a particular financial planner would be right for you:

• Credentials: It is important to confirm that the person you are planning to hire has been duly trained and is indeed a certified financial planner.
  
• Chemistry: Meet with the candidate, and see if you would feel comfortable working with him. A financial planner should not only be knowledgeable and well-trained, he should also be genuinely interested in helping his clients. If he appears to be pressed for time, move on to the next potential candidate.
  
• Ask for References: It always helps to speak with at least one or two of his/her clients who have used his/her services for at least a couple of years or more. Financial Planning usually involves decisions that have long term implications. So when you hire a financial planner, it is more than likely that you will be using his/her services for several years to come. Therefore, it is is important to speak with some of his/her clients who have used his/her services over last two to three years.
  
• Ask About Fees/Charges: Most financial planners would provide you with a written summary of their fees schedule. Move on to the next candidate if someone is not willing to provide you with a clear statement of all the fees and commissions that you are going to be expected to pay.
  
• Check out Specialization: Remember -your financial planning needs are unique -what works for someone else may not work for you. Depending upon your portfolio, your cashflow requirements, your age, your health, your lifestyle, and your retirement goals, your financial planning needs are as unique as you are. Therefore, discuss your unique financial planning needs with each of those candidates, and ask them how they would be able to help you reach those goals. Verify that your new financial planner not only specializes on those subject areas, but has adequate training/experience as well.
  
• Define Expectations: Discuss your requirements, including your need for periodic consultation and personal attention to matters that are important to you. If you feel that the candidate is likely to consider you as just another client, or is unlikely to find time for you, move on to the next candidate.
  
• Verify his/her Current Status: Visit Certified Financial Planner (CFP) Board of Standards Website to verify that the person you are about to hire is in good standing. Alternatively, you can call them toll free over the phone at: 888-237-6275 and verify the current status of that candidate.

You may also want to visit National Association of Personal Financial Advisers (NAPFA) and the American Institute of Certified Public Accountants (AICPA) website for more information on this subject.