An Ethical Financial Planner can help you design an ethical financial plan, which is more closely aligned with your business and personal financial goals. An EFP generally incorporates ethical financial strategies with a strong social conscience. For instance, an EFP might offer services to clients that help them create sustainable environmentally friendly business practices, such as purchasing energy efficient appliances and using recycled materials, reducing their dependence on fossil fuels, recycling at least some of their waste, or reusing resources whenever possible. An EFP might also work with their client to develop a more comprehensive fair trade marketing strategy. In addition, an EFP might also work with their client to reduce their financial vulnerability to high-cost energy, while improving their access to clean energy.
An ethical financial planner also works to ensure that their clients achieve a healthier economy. One way that they do this is by offering financial planning advice. This advice may come in the form of a newsletter, a publication or a report, which will contain such information as “green” tips on saving money and investing to achieve wealth, retirement planning information, investment tips, and more. An ethical financial planner will not recommend investments that are likely to cause harm to the environment. They will also withhold information on potential tax liabilities and will advise their clients to avoid companies that are publicly traded, and to only deal with companies that have been registered under Regulation D. Each state has different rules regarding financial planners, and you should research the laws in your state before you begin a relationship with an ethical financial planner.
If you would like to seek legal advice from an ethical financial planner, then you should first visit a local law firm or a finance networking organization. Generally speaking, most attorneys do not work on a contingency basis, meaning that you do not pay anything upfront for legal advice, but are billed after the service is rendered. However, some law firms offer free legal consultations so that you can ask any questions that you may have. Finance networking organizations typically have attorneys who work on contingency fees, meaning that you only pay them if they win your case. Many finance networking organizations also have bar associations that give legal references to lawyers. Your local law firm or finance networking organization may also have phone numbers for local attorneys who specialize in financial planning.
Before you actually contact a financial planner, you need to ask some questions, such as how long they have been practicing, how many cases they have won, and what other clients they may have helped during their time working as an attorney. Most financial planners attend seminars and will have a bio posted online that provides such information. It is important to know what other experiences financial planners have had, as well. Be sure that your financial planner has experience dealing with the State of
California, because the regulations for personal finance matters in that state are a lot more strict than elsewhere in the United States. You can usually find out this information by contacting your local Bar Association and asking for a referral.
The next question that needs to be answered is whether the planners are registered with the State Bar Association. While most people assume that registered planners have passed the bar, it is illegal for some planners to claim that they are lawyers while being prohibited from practicing law. If your planner refuses to take an exam that would certify him/her as a lawyer, then don’t use their services. There is no better way to find out whether or not you can trust your financial planning adviser than by asking him/her questions. Find someone who is willing to take the time to answer your questions and provide you with clear answers.
Finally, be sure that your planner is not a partner of a company that you are considering for financing your future. Many financial planners go beyond simply offering a loan and allow companies to submit bids on your home or car equity, which means that these companies could end up owning both your assets and your payments. If you are working on a retirement, a financial planner should not be allowed to work for or recommend either. While ethical financial planners can make good professional consultants, if they colluded with a company that owed them money, it would be unethical, and it would also constitute securities fraud.
