How to pick a financial planning firm

Effective financial planning can help you save, invest and protect what's important to you — as well as make wise spending decisions now and into the future. To help you choose a firm that can continue to help you as your life and goals evolve, we urge you to think about the following.

1. How will the firm help you move toward your goals?

• The firm should describe a long-term strategy and identify incremental steps to help you move toward your goals.
• In your initial meeting with a financial professional at the firm, you should discuss financial objectives that make sense for you. The process should make you feel comfortable about taking the next step.

2. How will the company help you track your progress?

• The firm should be prepared to help you measure your progress over time with statements, online tools and access to a financial professional.
• A financial plan should be flexible enough to adjust to changes over time. Will it accommodate new goals, different economic conditions, growth in your portfolio? How about life events like a new home, college for the kids, a job change or your retirement?

3. How can the firm help you protect what's important?

• A firm should be able help you determine your net worth (it might be higher than you think!).
• Since you need to protect existing and future assets, solutions such as insurance or estate planning strategies should be part of your plan.
• Insurance also helps you protect your loved ones from unexpected events.

4. How comfortable are you with the firm or the financial professional?

• Financial planning is an ongoing process, which means you should be able to work with an advisor and his or her company over time.
• Be certain that they are committed to sound financial planning practices.
• Ensure they're attuned to your needs and goals.
• Make sure they're willing to work with you in a long-term relationship.

At Ameriprise, financial planning is at the heart of what we do. Nothing is more important to us than making sure you have a financial plan that's right for you today — and tomorrow.