By Maura Schauss, CFP® and Todd Youngdahl, CFP®
As global markets continue their roller coaster ride due to fears surrounding the novel coronavirus (COVID-19), our most recent bull market officially turned into a bear market. But what does that mean? And are we on the verge of another recession like the one we had in 2008?
In light of all these concerns, today we’ll share what you need to know about recessions and bear markets. If you are worried about your portfolio, we understand and are here to help. Feel free to contact our office to get answers to your specific questions.
By Maura C. Schauss, CFP®
There are 135 different certifications for financial advisors, and most of them begin with the letter “C”: CFPs, ChFCs, CPAs, CLUs, CFSs, and the list goes on. With an alphabet soup of certifications, how do you find a financial professional who’s right for you?
According to a recent survey, most high-income households want their advisors to have these qualifications:
- 85% find it “very important” or “extremely important” for their advisor to have successfully completed a certification examination.
- 95% believe their advisor should adhere to professional practice standards.
- 97% say it’s extremely important for their advisor to adhere to a professional code of ethics.
That’s a tall order. But—believe it or not—it’s not impossible to find an advisor who meets these qualifications. In fact, certified financial planners (CFP®s) check all these boxes and more.
Read on as we discuss everything you need to know about the importance to you in working with a CFP®.
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