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A financial planner's job is to build a comprehensive financial game plan, given a complete picture of an individual's financial situation, needs and goals. Financial planners provide a variety of services that help integrate an individual's or family's financial goals, including risk management, investments, tax planning, retirement planning and estate planning.
Financial planners are usually compensated in one of two ways. They may take an percentage annually of assets under management, typically 1-2%. On the other hand, fee-only financial planners are paid on an hourly basis only. When considering which financial planner to hire, it is important to evaluate the advisor's expected annual fee, and what value you expect to receive in return.
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