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[quote=Anonymous]A CFP’s value isn’t in beating the market. It’s in financial planning and helping to coordinate other advisors - like tax and estate planning - that go with it.

People have lots of financial goals, like saving for a house downpayment, a kid’s college, or retirement. Many people do not know how to plan and invest for these events. The goal of a financial planner is to get you to your goal with MINIMUM financial risk.

Similarly, once people reach retirement age, many don’t know which accounts to use first, when to take social security, when and if to transfer money from a traditional URA to a Roth, etc.

A big - and sometimes overlooked - part of a CFP’s role is just educating people on investments and giving them emotional support when the market tanks. So many people mess-up their financial futures by investing aggressively and then selling at the bottom of a market drop. A CFP will ensure that you’re appropriately invested to meet your goals and keep you on track when the market barfs.

If you know lots about investments, can plan for your financial goals, and have good emotional control during market downturns, you may not need a planner. That said, many don’t have these knowledge and skills, have no interest in acquiring them, but do want a secure financial future. For those folks, a planner is better than no planning at all. [/quote]

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