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Bob Cochran 1621 West 1st Ave Columbus, OH 43212 614-481-8449 pdsplanning.com Mr. Cochran is not affiliated with, or compensated by U.S. Global Investors. |
| Bob Cochran joined PDS Planning of Columbus, Ohio, in 1987. He is a member of the Financial Planning Association, its National Chapter Advisory Council, and served two terms as President of the Central Ohio Chapter. He holds bachelor’s and graduate degrees from the Ohio State University and earned the Certified Financial Planner designation. |
You’ve done a good job of investing your dollars. You think your portfolio is diversified and meets your
long-term goals and risk tolerance. Now you can sit back and relax, right? Wrong!
More and more people are discovering that investing is only part of their overall financial picture. There are many more issues to address. These include retirement planning, estate planning, education planning for children, tax planning, and insurance analysis. Despite numerous Internet sites available to help consumers with these important issues, most people are simply overwhelmed and decide to delay until “the time is right.” What we’ve discovered is that, for a lot of people, the time is never right. A Certified Financial Planner can help sort through the maze of issues and establish a plan that will serve as a road map in future years. A number of clients have discovered that some things are not worth the risk of “doing it themselves.” Accurate, personalized retirement and estate planning is complicated for most people. But even more important, a good financial planner will help coordinate the work done by your accountant, attorney, insurance agent, and other advisors, to create a complete picture of where you are and where you are headed. This will serve as a guide in determining appropriate actions needed to achieve your goals and dreams. You might think of your financial planner as captain of your team, assuring that decisions made in one area do not adversely affect others. How do you select a financial planner? The first step would be to ask family or respected friends and colleagues for recommendations. Find out if the person is a Certified Financial Planner. This is one way to identify someone who has passed a rigorous examination process as well as continuing education in all areas of planning. When interviewing a planner, be sure to ask how payments are handled – by fees or by commissions. You may be more comfortable with one method than another. Find out if the planner is a member of, and is actively involved in, one or more professional organizations, such as the Financial Planning Association. Then ask for referrals. Hiring a financial planner means you will be divulging all of your personal financial information. There must be a high level of trust for a long-term relationship to be successful. Some financial planners specialize in a particular practice, such as retirement planning, investment management, or tax planning. If you are looking for advice in a specific area, this could be a good option. Not everyone needs to have a complete financial plan. Perhaps you are looking to consolidate your investment accounts and want a qualified investment advisor to coordinate this. A number of Certified Financial Planners devote a great deal of time to managing investment portfolios of stocks, bonds and no-load mutual funds. Clients are charged an annual fee, most often a percentage of the total value of the managed portfolio. As long as the market keeps going up, people tend to focus on their investments. The fact is that other areas of our financial lives need attention. If you have not already done so, now is a good a time to consider how a Certified Financial Planner might help you. |
