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Empowering Your Financial Journey: 10 Key Advantages of Working with a Certified Financial Planner® (CFP®)

Planning Lifestyle Retirement Scott's Thoughts

By: Scott Van Den Berg, CFP®, ChFC®, CEPA®, AIF®, CRPS®, CMFC®,  AWMA®

Working with a Certified Financial Planner® (CFP®) can offer numerous benefits, especially when it comes to managing your personal finances and planning for the future. Here are some of the key advantages of working with a CFP® professional:

1. Comprehensive Financial Planning: CFP® professionals  are trained to provide holistic financial advice. They can help you create a comprehensive financial plan that takes into account your specific goals, risk tolerance, and current financial situation. This plan covers various aspects such as budgeting, saving, investing, retirement planning, estate planning, insurance needs, and more.

2. Expertise and Knowledge: CFP® professionals have undergone rigorous education and training in financial planning. They must pass a comprehensive exam and meet ongoing continuing education requirements. This ensures they are well-versed in the complexities of financial markets, tax regulations, and various financial products and services.

3. Objective Advice: CFP® professionals have a fiduciary duty, meaning they are obligated to act in their clients' best interests. This commitment to objectivity helps ensure that the advice you receive is tailored to your needs rather than driven by sales commissions or other incentives.

4. Tailored Solutions: Each person's financial situation is unique. CFP® professionals take the time to understand your specific circumstances and goals, allowing them to provide personalized recommendations and solutions that align with your objectives.

5. Financial Goal Setting and Monitoring: CFP® professionals can assist you in setting realistic and achievable financial goals. They will also help you monitor your progress toward these goals over time, making adjustments as needed based on changes in your life or the market.

6. Risk Management: CFP® professionals  can help you assess and manage financial risks, such as investment risks, insurance needs, and estate planning considerations. A well-thought-out risk management strategy can help protect you and your family from potential financial setbacks.

7. Tax Efficiency: CFP® professionals can help you optimize your tax situation by suggesting tax-efficient investment strategies and identifying opportunities for deductions and credits.

8. Education and Empowerment: Working with CFP® professionals  can be an educational experience. They can help you understand financial concepts and strategies, empowering you to make more informed decisions about your money.

9. Behavioral Guidance: Financial planning is not just about numbers and calculations; it also involves understanding human behavior and emotions around money. CFP® professionals can provide valuable guidance to help you stay disciplined and avoid common behavioral pitfalls that might harm your financial success.

10. Life Transitions and Unexpected Events: During significant life events like marriage, starting a family, buying a home, or facing unexpected challenges, CFP® professionals can provide valuable advice and support to navigate through these changes and maintain financial stability.

The specific benefits you experience from working with a CFP® professional will depend on your individual circumstances and the quality of the financial planner you choose. At Century Management, our team of experienced CFP® professionals are here to help you align your values and financial objectives to help you achieve better outcomes and greater peace of mind.

Disclosures: Century Management is an independently registered investment adviser with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Century Management is also registered as a Portfolio Manager in the Province of Ontario. Past performance is not indicative of future results. The discussions and viewpoints featured are not intended to be investment advice. This information is also not intended to be tax advice. Please consult legal or tax professionals for specific information regarding your individual situation. A full description of our Firm’s business practices, including our Firm’s investment management services, wealth and retirement plans, and advisory fees, are supplied in our Form ADV Part 2A and/or Form CRS. CM-2023-07-27