1. Foley & Foley Wealth Strategies
Luke Fields, CFP®
Vice President / Financial Advisor
450 W. Wilson Bridge Rd.
Suite 100
Worthington, OH 43085
614-431-4310 x113
luke.fields@raymondjames.com
www.foleywealthstrategies.com
What Is a CERTIFIED FINANCIAL
PLANNER™ Professional?
While others may call A CERTIFIED FINANCIAL PLANNER™ professional or for their services. A CFP® professional may use a
themselves financial a CFP® practitioner is a financial professional who combination fee-and-commission structure: you pay a
planners, only those who meets the requirements established by the Certified fee for development of a financial plan or for other
demonstrate the requisite Financial Planner Board of Standards, Inc. While services provided by the CFP® professional, who
experience, education,
and ethical standards are
others may call themselves financial planners, only also receives a commission from selling you products.
awarded the CFP ® mark. those who demonstrate the requisite experience, A commission is a fee paid whenever someone buys
education, and ethical standards are awarded the or sells a stock or other investment, or when
CFP® mark. someone buys insurance (such as health, life, or
long-term care insurance) or annuities.
What are the requirements?
When calculating the cost to employ the services of a
In order to obtain the CFP® mark, an applicant must: financial planner, consider fees, commissions, and
• Hold a bachelor's degree from an accredited related expenses, such as transaction fees and
college or university management fees related to the products he or she
• Complete a CFP® Board-registered education recommends.
program How can a CFP® professional help
• Pass the 10-hour CFP® certification exam you?
• Have at least three years of qualifying full-time A CFP® professional can help you create a personal
work experience in financial planning budget, control expenses, and develop and
• Pass a professional fitness standards and implement plans for retirement, education, and/or
background check wealth protection. A CFP® professional can offer
Once appointed, a CFP® professional must meet expertise in risk management, including strategies
continuing education requirements every other year in involving life and long-term care insurance, health
order to maintain the certification. insurance, and liability coverage. He or she often can
A CFP ® agrees to adhere help with your tax planning or manage your asset
to a strict code of What does a CFP® professional do? portfolio based on your goals.
professional conduct
described in the CFP A CFP® professional is trained to develop and Specifically, a CFP® professional can help you:
Board's Code of Ethics implement comprehensive financial plans for • Establish financial and personal goals and create a
and Professional individuals, businesses, and organizations. He or she plan to achieve them
Responsibility. You can has the knowledge and skills to objectively assess
review the Code of your current financial status, identify potential problem • Evaluate your financial well-being with a thorough
Ethics at www.cfp.net. areas, and recommend appropriate options. You're analysis of your assets, liabilities, income, taxes,
also working with someone who's demonstrated investments, and insurance
expertise in multiple areas of financial planning, • Identify areas of concern and help you address
including income and estate tax, investment planning, them by developing and implementing a financial
risk management, and retirement planning. plan that emphasizes your financial strengths while
reducing your financial weaknesses
How is a CFP® professional
• Review your plan periodically to accommodate
compensated? your changing personal circumstances and
Typically, financial planners earn their living either financial goals
from commissions or by charging hourly or flat rates
January 20, 2012
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2. How to choose a CFP® professional • Are you affiliated with any professional groups or
organizations? Do you execute securities trades
Selecting a CFP® professional is like choosing a through a broker-dealer? Who is it?
doctor for your financial health. Working with a CFP®
professional involves sharing very personal • Does your practice concentrate in a particular
information and you will want to feel comfortable with area? What types of clients do you work with?
the professional you've chosen. He or she should be • What type of products and services do you offer?
knowledgeable, have integrity, and demonstrate a Are you limited as to the products and services
commitment to the highest ethical standards in the you can offer me?
industry. Also, a CFP® professional may offer • How are you compensated for your services? Do
services to a particular clientele, such as small you receive a commission for products you may
business owners, corporate executives, or retirees, so sell to me?
be sure the planner you select works with people
• Have you ever been disciplined by any
whose interests and goals are similar to yours.
government board or regulatory agency?
Before you choose someone to work with, ask
around. You may know a family member, friend, or Is a CFP® professional right for you?
colleague who has worked with someone they'd The financial world has become a very complex
The following sites offer recommend. Also, be prepared to interview the
more information about place. Even if you're used to handling your own
CERTIFIED FINANCIAL
prospective CFP® professional. At your meeting, financial affairs, the time may be right to consult a
PLANNER™ request a copy of form ADV or the comparable state CFP® professional who can review your financial
professionals: form. A CFP® professional who offers investment health and offer suggestions that may help you reach
• The Certified Financial
advice for a fee is required to file form ADV with the your financial goals.
Planner Board of U.S. Securities and Exchange Commission (SEC) or
with the state of residence of the CFP® professional For example, are you familiar with all the different
Standards, Inc., investment opportunities that might be available to
(www.cfp.net) (although some exceptions apply). Form ADV
contains information about the professional's you? Are you on track to meet your financial goals
• The Financial Industry such as saving for your child's college education,
Regulatory Authority, education, business, disciplinary history, services
offered, fees charged, and investment strategies. In securing enough income for a comfortable retirement,
(www.finra.org)
addition to form ADV, ask for the disclosure document or protecting your assets against risks and lawsuits?
• The Securities and A CFP® professional can offer the analysis you need
exchange Commission, that contains other important information regarding
the CFP® professional. Even if you don't ask for the to help answer these and other important financial
(www.sec.gov)
disclosure document, it must be provided to you at questions.
the time you enter into an agreement for services, or Note: Certified Financial Board of Standards Inc.
soon thereafter. Be sure to read the disclosure owns the certification marks CFP® and CERTIFIED
document carefully as well as any written agreements FINANCIAL PLANNER™ and federally registered CFP
you enter into. (with flame design) in the U.S., which it awards to
individuals who successfully complete CFP Board's
Questions to ask initial and ongoing certification requirements.
Here are some questions you may want to ask a
CFP® professional to help you find the right planner
for you:
• What is your education? What schools did you
attend and what degrees have you earned?
• What licenses do you hold? Are you registered
with the SEC, FINRA, or the state?
This information, developed by an independent third party, has been obtained from sources considered to be reliable, but Raymond James
Financial Services, Inc. does not guarantee that the foregoing material is accurate or complete. This information is not a complete summary or
statement of all available data necessary for making an investment decision and does not constitute a recommendation. The information
contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This
information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Investments mentioned may not be suitable
for all investors. The material is general in nature. Past performance may not be indicative of future results. Raymond James Financial Services,
Inc. does not provide advice on tax, legal or mortgage issues. These matters should be discussed with the appropriate professional.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent broker/dealer, and are not insured
by FDIC, NCUA or any other government agency, are not deposits or obligations of the financial institution, are not guaranteed by the financial
institution, and are subject to risks, including the possible loss of principal.
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Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2012