NUMBER ONE Success System

[Tommy Lee]

http://www.noss123.com/

**5 Questions to Ask When Choosing a Financial Planner

*1. How will I pay for your services?*
As part of your financial planning agreement, the financial planner should
clearly tell you in writing how she will be paid for the services to be
provided.

Planners can be paid in several ways:


   - A salary paid by the company for which the planner works. The
   planner's employer receives payment from you or others, either in fees or
   commissions, in order to pay the planner's salary.
   - Fees based on an hourly rate, a flat rate, or on a percentage of
   your assets and/or income.
   - Commissions paid by a third party from the products sold to you to
   carry out the financial planning recommendations. Commissions are usually a
   percentage of the amount you invest in a product.
   - A combination of fees and commissions whereby fees are charged for
   the amount of work done to develop financial planning recommendations and
   commissions are received from any products sold. In addition, some planners
   may offset some portion of the fees you pay if they receive commissions for
   carrying out their recommendations.

*2. How much do you typically charge?*
While the amount you pay the planner will depend on your particular needs,
the financial planner should be able to provide you with an estimate of
possible costs based on the work to be performed. Such costs should include
the planner's hourly rates or flat fees or the percentage he would receive
as commission on products you may purchase as part of the financial planning
recommendations.

*3. Could anyone besides me benefit from your recommendations?*
Some business relationships or partnerships that a planner has could affect
her professional judgment while working with you, inhibiting the planner
from acting in your best interest. Ask the planner to provide you with a
description of her conflicts of interest in writing. For example, financial
planners who sell insurance policies, securities or mutual funds have a
business relationship with the companies that provide these financial
products. The planner may also have relationships or partnerships that
should be disclosed to you, such as business she receives for referring you
to an insurance agent, accountant or attorney for implementation of planning
suggestions.

*4. Have you ever been publicly disciplined for any unlawful or unethical
actions in your professional career?*
Several government and professional regulatory organizations, such as the
National Association of Securities Dealers (NASD), your state insurance and
securities departments, and CFP Board keep records on the disciplinary
history of financial planners and advisers. Ask what organizations the
planner is regulated by and contact these groups to conduct a background
check. (See listing at right.) All financial planners who have registered as
investment advisers with the Securities and Exchange Commission or state
securities agencies, or who are associated with a company that is registered
as an investment adviser, must be able to provide you with a disclosure form
called Form ADV Part II or the state equivalent of that form.

*5. Can I have it in writing?*
Ask the planner to provide you with a written agreement that details the
services that will be provided. Keep this document in your files for future
reference.
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