The problem most people have with selecting a financial planner is the same problem they have when dealing with most professionals, such as a doctor or lawyer; most of these types of professionals have forgotten that though their constituency defer to them in most cases, they are still simply providing a service for which they are being paid. There is nothing more frustrating than dealing with someone on a professional level, who is receiving a significant amount of financial compensation, who acts like they are doing you a favor. It is annoying and frustrating to most people. The number one key to selecting a financial planner has to be selecting an individual who appreciates that without customers, they are out of a job.

Selecting a Financial Adviser: What do I need?

The second most frequent problem that most people have is their general lack of understanding when it comes to financial planning. As a society we have become completely reliant on individuals with extremely specific skill sets. While it is impossible to understand every nuance of investing and retirement planning, many consumers choose to remain ignorant of their options and of the market in general. Because they do not know what they are trying to do financially, they do not know what kind of planner that they are looking for and they often lack a clear direction when it comes to their portfolio. Unless you have a clear idea of what your long term financial plan looks like, than any adviser that you select is going to be operating under a similar cloud of confusion.