Updated August 2026

How to Choose the Right Financial Planner for You

Managing money can be stressful, but you are not alone. Hiring an expert can help you manage debt, build a budget, and reach your goals.

What Does a Financial Planner Do?

A financial planner helps you look at your complete financial picture. You want a partner who understands your situation and has time for your specific needs.

While anyone can call themselves a financial planner, a Certified Financial Planner (CFP) is often a safe choice. CFPs must pass strict tests on taxes, retirement, and estate planning. This means they have the proven skills to help you succeed.

How Financial Planners Get Paid

It helps to know how your planner earns money before you hire them. Most planners fall into one of three categories:

Commission-based: These planners earn money when you buy certain financial products, like insurance policies or mutual funds. The commission is built into the product's cost, so you may not see it as a separate charge.
Fee-only: These planners charge a flat fee, an hourly rate, or a percentage of the money they manage for you. They don't earn commissions from any products they recommend.
Fee-based: These planners charge a mix of fees and commissions, blending the two models above.

Understanding the full range of potential costs can help you decide what makes sense for your situation. Organizations like the National Association of Personal Financial Advisors (NAPFA) can help you find fee-only planners.

Where to Find the Right Match

Start by asking friends or family if they use a financial planner or know anyone who would refer their financial planner. Look for people who understand your life stage and financial background. You can also search online through the Financial Planning Association.

Before you meet, do a quick background check. You can use BrokerCheck to look for any unethical behavior. You can also verify CFP status directly on the CFP Board website.

Questions to Ask a Financial Planner

Talking about your money is very personal. Make sure you feel comfortable and respected. Here are helpful questions to ask during your first meeting:

What services do you provide?
How do you charge for your help?
What type of clients do you usually work with?
How often will we talk about my progress?

Build Your Credit While You Shop

A financial planner can be a good first step. But you also need the right tools to manage your everyday expenses without the stress.

If one of your goals is to improve your credit score, Perpay is a great option. Once activated, for just $5 a month, your account reports up to a $1,000 spending limit to the three major credit bureaus: Experian, Equifax, and TransUnion.* Reporting a new credit line with 0% utilization is a healthy credit factor that can have a positive impact on your score. You can also use your spending limit to shop in the Perpay Marketplace and pay over time. Your payment history will also be reported to the credit bureaus, adding another healthy credit factor to your credit report.

^*The credit score (VantageScore 4.0) increase of 30+ points is based on the average of approximately 50,000 Perpay+ customers with a baseline credit score of 550 or below during the first year of reporting. Credit score improvement is not guaranteed, and individual results may vary. Perpay will report your transactions to Experian®, Equifax®, and TransUnion®. Late payments may negatively impact your score. This product will not remove negative credit history from your credit report. Perpay+ is only available to eligible Marketplace account holders. Fees apply. See the Perpay Terms and Conditions for more details.

Perpay does not provide financial, legal, or regulatory advice. The content is for general informational purposes only. Any views expressed are those of Perpay, not its partner institutions. We do not endorse or guarantee the accuracy of any linked third-party information. Links to Perpay products are advertisements. All external brand names belong to their respective owners.