How to Find a Financial Planner in Lawrence, KS

Whether you do it on your own or work with a professional, financial planning is essential for managing your finances and achieving your goals. This article describes the areas that financial planning typically covers and how to find a financial planner in Lawrence, KS.

What Is Financial Planning?

Financial planning is the process of optimizing all areas of your finances to achieve your short- and long-term goals. These areas can include:

  • Budgeting and cash flow management: A financial planner can help you create a budget and manage your cash flow to meet your objectives.
  • Saving and investing: The financial advisor can help you create a savings plan and investment strategy. The advisor may also manage your investments on your behalf.
  • Retirement planning: The financial professional can create a retirement plan to help provide a comfortable and sustainable retirement. They’ll help you make decisions about retirement plan contributions and distributions, Social Security benefits, and more.
  • Tax planning: A professional can help you minimize your tax liability and maximize your after-tax returns. To that end, they may recommend strategies such as tax loss harvesting and qualified charitable distributions.
  • Estate planning: A financial planner can help you create a plan to protect your assets and provide for your loved ones. They may work with your attorney to help ensure any action steps, such as asset retitling, are completed.

Who Provides Financial Planning?

When seeking a financial planner in Lawrence, Kansas, you have several types of professionals to choose from:

  • Fee-only advisors: Fee-only financial advisors charge clients for their services. They do not receive commissions or any other third-party compensation.
  • Commission-based advisors: These professionals receive commissions on the financial products that clients buy based on their recommendations.
  • Fee-based advisors: These professionals can charge client fees and receive commissions.

When choosing a financial planner, it’s important to consider what’s right for you. A fee-only financial advisor may be a good choice if you’re looking for someone who avoids conflicts of interest.

Our Registered Investment Advisory firm is fee-only because we believe commissions muddy the waters of objectivity. We want to serve our clients’ interests, and fee-only financial advice helps us do that.

When considering a financial planner, you might look at the acronyms that follow their name. There is actually an alphabet soup of acronyms in the financial services industry, but one that stands out is the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation. In fact, we require all our wealth advisors to have the certification.

A CERTIFIED FINANCIAL PLANNER™ professional has completed rigorous education and experience requirements and passed a comprehensive exam administered by the CFP Board of Standards. CFP® professionals are held to a fiduciary standard, meaning they are legally required to act in the best interest of their clients. This designation can be useful for individuals seeking financial services as it indicates that the advisor is held to a high standard of ethics and professionalism.

Furthermore, CFP® certificants possess the knowledge and skills to provide comprehensive financial planning services. They can help you navigate complex financial situations and make informed decisions about your money.

How to Find a Financial Planner in Lawrence, Kansas

First, it’s important to note that a potential financial professional may go by a range of titles, such as wealth advisor, financial advisor, or financial planner. That’s why this article has covered other ways to assess whether the professional can provide the service you need.

Assuming you seek a fee-only, fiduciary professional, you have several avenues to find one. For example, you can search member listings of professional organizations. These listings generally offer searches by location, so you can easily look for financial planners in Lawrence, KS. You might try:

  • Let’s Make a Plan: Managed by the CFP Board, Let’s Make a Plan enables you to search for financial advisors with the CFP® designation.
  • Find an Advisor: You can find local members of the National Association of Personal Financial Advisors. NAPFA requires its members to be fee-only, fiduciary financial planners.
  • These listings are another resource for finding financial advisors who are fee-only, fiduciary, and unaffiliated with a brokerage firm, bank, or insurance company.

When you’ve narrowed your list of potential financial planners in Lawrence, the next step is to schedule a call with them. This meeting is usually complimentary and 15 to 30 minutes long. You can discuss your concerns and goals, and the advisor will share how they may help you. Make sure to ask any questions you have about their qualifications, experience, and fee structure. The call is an opportunity to assess a mutual fit before moving forward.

Your Goal Are Paramount

Ultimately, financial advice should be centered on your goals. The right professional can create a comprehensive plan to meet your objectives. They can also help you take advantage of opportunities and steer clear of pitfalls you might not have known about on your own. You have a variety of resources for finding Lawrence financial planners, and we wish you every success on your journey.

Schedule a 30-minute call with a fee-only, fiduciary wealth advisor in Lawrence, Kansas.

This material was generated using artificial intelligence (ChatGPT) and edited by Kaleido Inc. from information derived from sources believed to be accurate. This information should not be construed as investment, tax, or legal advice.

Clayton Wealth Partners