Are there different kinds of financial planners?

Yes. There are lots of people who call themselves “financial planners.” You probably want to look for a financial planner that is a certified financial planner or CFP who has met the criteria of the CFP board. You also probably want to find a financial planner who doesn’t sell products or manage assets. If the financial planner is a broker, then their compensation is based on the quantity of commissions they earn for the products they sell. If the financial planner manages money for a living, then they can’t really give you unbiased advice about buying a house or buying an annuity, because those might conflict with their interests of maximizing their assets under management. The best kind of financial planner provides you with completely unbiased financial guidance about your whole financial picture – from budgeting, taxes, and investments, portfolio analysis, and risk management to education costs, housing, charitable donations, retirement spending, and shortfall risk.

What is a CFP?

CFP stands for Certified Financial Planner. A CFP certificant has demonstrated competency in all areas of finance related to financial planning. Candidates complete studies on over 100 topics, including stocks, bonds, taxes, insurance, retirement planning and estate planning. The program is administered by the Certified Financial Planner Board of Standards Inc. In addition to passing the CFP certification exam, candidates must also complete qualifying work experience and agree to adhere to the CFP Board's code of ethics and professional responsibility and financial planning standards, as well as fulfill continuing education standards.

What is a life coach?

A life coach helps you nurture your personal development and helps bring forth your fullest potential. A life coach is a talking partner who is by your side to ask skillful questions, listen deeply, and be fully present to who you are and what you say. As you work with a life coach, you will develop a deeper vision of your personal goals and what your future might be. A life coach helps you to see your blind spots, and challenge your fixed views, so that you may deepen your connection to yourself and others, lessen difficulties, and unfold into the person that you can be. Done well, coaching is more than a short term means of holding you accountable to accomplish task and goals, and much more about holistically developing new competencies and ways of being which allow for more ease and satisfaction.

What is a financial coach?

Financial planner + Life Coach = Financial Coach. Financial Planning is about creating a plan of action. Coaching is about taking action with the plan as well as taking action to relate to money and be in life in a healthier way. Financial coaching will provide you with strategies and practices that move you forward in your personal development journey and deepen your financial well-being.

What does SFP offer?

SFP blends the science of planning with the art of coaching. SFP’s unbiased financial planning | coaching service is structured to offer conflict-free guidance. Unlike most financial “advisors,” SFP does not sell products or manage assets. You will have the peace of mind of working with a trusted financial coach and knowing that your interests are always held as the highest priority.

What sets SFP apart?

SFP offers a unique, holistic, life-focused financial planning and transformative coaching process for individuals who want to go to their next level and reach their highest potential. We offer our clients the possibility of personal transformation through their work around money. SFP not only helps you plan for your financial future but also empowers you with knowledge and coaching so that you continue to grow in the future.

How does SFP work with clients?

Depending on the nature of the engagement, SFP meets with clients on a 3 to 9 month time frame, typically on a biweekly basis. Because Smith Financial Place believes so strongly in the value of financial planning as a means to bringing forth your best life, it works with clients on a time frame that allows for some significant actions to be taken and allows for some significant shifts in a client’s way of being and sense of financial well-being to occur.

Where can I find out more about SFP?

Here is the ADV Part 2 for Smith Financial Place. This is the form that SFP files with the California Board of Corporations and NASD to disclose all pertinent information about its business.

Advisers use Form ADV to register as an investment adviser with the SEC and for state registration. ADV Part 1 contains information about the adviser's education, business and disciplinary history within the last ten years. ADV Part 2 includes information on an adviser's services, fees, and investment strategies. Before you hire someone to be your investment adviser, always ask for, and carefully read, both parts of the adviser's Form ADV. You can find a copy of an investment adviser's most recent Form ADV Part 1 on the Investment Adviser Public Disclosure (IAPD) website. Your investment adviser must furnish you with a copy of Part 2 of Form ADV. For information about selecting an investment adviser, please read this publication, Investment Advisers: What You Need to Know Before Choosing One.