Choosing a CERTIFIED FINANCIAL PLANNER™ professional is as important as choosing a doctor or lawyer; it's a very personal relationship. Many CFP® professionals specialize in working with certain types of clients, such as small-business owners, executives or retirees. Some specialize in certain areas of planning such as retirement, divorce or asset management. We recommend you interview at least three CFP® professionals to find the right one that best serves your needs.
Goldman Sachs’ Consumer and Investment Management Division (CIMD) works with a diverse range of world-class institutions, high net worth individual investors and retail consumers globally to achieve investment goals and financial well-being and bring an innovative approach to traditional consumer banking. We are one of the world’s largest asset managers, with approximately $1.8 trillion in assets under supervision across asset classes and strategies. Our global professionals are dedicated to helping clients navigate markets and meet their investment goals. We are:
Wealth Creates Risks. As you work hard and accumulate wealth, you face greater risks. Unfortunately, most individuals and businesses spend very little time evaluating and addressing these risks, threatening their future financial security and family legacy. We understand these risks and the potential harm they can bring to your family and business. We specialize in creating customized insurance portfolios and strategies for affluent families and successful business owners, which protects your most valuable assets. In developing your wealth, you need more than just standard insurance and financial planning from traditional companies.
Typically, financial planners earn their living either from commissions or by charging hourly or flat rates for their services. A commission is a fee paid whenever someone buys or sells a stock or other investment. For reasons we’ll explain later, you may want to avoid financial planners who rely on commissions for their income. These advisers may not be the most unbiased source of advice if they profit from steering you into particular products.
When choosing a financial planner, it's important to understand the financial planning landscape. According to the Financial Industry Regulatory Authority (FINRA), almost anyone can claim to be a financial planner and might come from many different backgrounds. Financial planners might be brokers or investment advisers, insurance agents, practicing accountants, or individuals with no financial credentials. That is why the consumer must perform his or her due diligence before turning their money over to any sort of financial advisor. Here are some differences between the two terms.
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