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It’s best to go with a certified financial planner (CFP), which is an instant signal of credibility – but not a guarantee of same. To start, ask people like you if they can recommend a planner. If you have kids, ask a colleague who also has children. If you’re single and just out of college, check with a friend in the same boat. If possible, you want to find a planner with successful experience advising clients in the same stage of life as you.
If you’re starting out and don’t have a trove of assets, an planner who charges by the hour could be the best fit. These planners are best for when your needs are fairly simple. Typically, hourly planners are just building their practice, but that usually means they’ll take the care to get your finances right. After all, they’re relying on your recommendation to grow their business. Finally, many experienced advisers do hourly work because they enjoy working with younger clients who can only afford to hire someone at that rate.

The R.F.P. is the older (established in 1987) and more stringent of the two publicly monitored designations. All R.F.P.s must first demonstrate their competency, then abide by a code of ethics and adhere to rigorous practice standards as defined by the granting body, the Institute of Advanced Financial Planners (IAFP). Every R.F.P. must attest each year that financial planning is their primary vocation.[12]
The most commonly held is the Certified Financial Planner (CFP®) designation issued by the Certified Financial Planner Board, a non-profit, certifying and standards-setting organization that administers the CFP exam. Certified Financial Planner is a formal credential of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement. Owned and awarded by the Certified Financial Planner Board of Standards, Inc., the designation is awarded to individuals who successfully complete the CFP® Board's initial exams, then continue ongoing annual education programs to sustain their skills and certification.
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