Newspaper Page Text
How doyou find a financial planner?
ou've decided to take control of
your financial situation. Per
haps you've developed a finan
cial plan, educated yourself
about investment vehicles such as
stocks and bonds and maybe mapped
out a strategy for retirement savings.
At some point you are going to have to
decide if you want to navigate that
financial road on your own or if you
want someone else at the wheel. And
if you choose the latter, you'll need to
find out how to find a good investment
adviser. :
Before you decide to go solo, take a
realistic look at your situation. “To
properly handle your finances on your
own, you need time, training and tem
perament,” said Ruth Sikes, a regis
tered representative with Edward
Jones in Atlanta. “You have to have
timeto monitor yourinvestments, keep
up with economic indicators and track
demographictrends. Youhavetohave
theright training, so you can interpret
all the information you are tracking.
And you have to have a temperament
that can withstand the ups and downs
of the market and be able to stay fo
cused on your long-term goals instead
By Martha Nolan,
NYT Regional Newspapers
FAecH I
I’lzmning
it
AsSoon As
Things Slow
BT
YN
" l
b
¥
N
-
"N/ 2 )
l.“\
N, /
©1998 Sun Trust is a registered service mark belonging exclusively 10 Sun Trust Banks, Inc. AUG 110-8
Investments: Are not FDIC insured ¢ Are not guaranteed by any bank May lose value * Securities
are offered through Sun Trust Securities, Inc., a registered broker/dealer, member NASD, SIPC.
The Georgia Investor » An Advertising Supplement 1o Augusta Focus Newspaper * FALL * 1998
of being carried away with emotion.”
If you don't feel comfortable with
that financial responsibility, you might
want to find an investment adviser.
One of the best ways to locate a good
adviser is to ask friends and co-work
ers. You could also ask a lawyer or
CPA for a referral. Or you can call one
of various picfessional organizations,
such as the international Association
for Financial Planning at (404)845-
0011 or the Institute of Certified Fi
nancial Planners at (800)322-4237.
However you track them down, you
need to interview the candidates, just
as you would someone you were hiring
to care for your child or handle your
legal matters. During the initial in
terview, you want to make sure you
feel comfortable with the adviser. “You
have to find someone you can commu
nicate with,” said Mary Rinehart, presi
dent of Rinehart and Associates, a
financial advisory firm in Charlotte,
N.C. “You could have the best planner
in the world, but if you don’t know
what they are doing and why, it could
Jjeopardize the relationship.”
At the interview, ask the adviser for
references. It’s particularly helpful if
the adviser can provide names of cli
ents whose financial situations are
similar to yours. If the planner is
reluctant to provide references, be
. L B
. e e 0 g
q.:.flf
o
B {
BX o .
-~ -l v
L 7 i A\
TRT s
s, 52
i e 3 Bt A
i g (o
b 3 Y e ¢ A
i ; e 2- S
iss y b
wary. “There are a lot of people who
won’t give you references because they
don’t have them,” said Sikes. “If they
can'’t give you references, this is prob
ably not someone you should be work
ing with.”
Make sure you understand how the
adviser makes his money. Advisers
are generally compensated in one of
four ways:
@solely by fees;
Sby a combination of fees and com
missions;
Ssolely by commissions; or
Sthrough a salary and bonus paid
by the adviser’s company (which may
be compensated in one of the first
three methods).
“No particular method of compensa
tion is better than another,” said
Rinehart. “You just need to under
stand how this person is getting paid
and feel comfortable with it.”
And you need to understand all the
charges associated with your invest
ments. For example, if your adviser
develops a comprehensive financial
plan that includes investments in
mutual funds, you may have to pay a
fee for the plan and a load, or commis
sion, for the funds. The adviser should
let you know all this up front.
You should also find out what kind
of training the adviser has had. This
Ask A Sun Trust Investment Consultant To
Help You Develop A Retirement Plan That
Works As Hard As You Deo.
Although retirement may seem a long way off, the sooner you start, the
greater the potential veward doum tie road. Sun Trust Investment Services
makes available an amay of imesbnents, including mutual funds and
asset allocation accounts, that can make preparing for your future easier.
In fact, no matter how your inm?ment needs change, you can depend on
Sun Trust’s experience and ability to help you be ready for anything that
life has in store for you. Visit your local Sun Trust office to mt;ke an
appointment with one of our Investment Consultants or call 821 -2000.
can be confusing, since there are many
titles out there, and some are virtually
meaningless. Many people deal with
either a securities broker or certified
financial planner, who are sometimes
one and the same. Securities brokers
are licensed to buy and sell publicly
traded stocks, bonds, commodities and
mutual funds. Some also offer other
financial services. Certified financial
planners are qualified to coordinate a
client’s investment plans, as well as
their banking, tax, estate and insur
ance programs.
But there are a lot more options.
Chartered financial analysts and char
tered financial consultants, like certi
fied financial planners, must pass a
series of exams and have several years’
work experience. Financial planner,
financial adviser and financial strate
gist, however, are all self-appointed
titles that require no degree or special
training.
SUNTRUST
Be Readvy For ©ife
5