My wife and I have accumulated a nice nest egg through years of hard work and lots of coupon clipping. As we approach retirement, we want to protect what we’ve built, so we began looking for afinancial expert. My goodness, were we surprised. there’s not only CPAs, but certified estate advisors (CEAs), registered financial planners (RFPs), certified senior specialists (CSSs) and countless others. There are so many specialists out there with titles and letters behind their name I don’t know where to turn. Can you give us some ideas on how we can choose a good financial expert? Title-Free Tom

Dear Tom,

I hear you! In today’s financial world you need a program and a score-card just to keep track of all the different players, like the tax experts, insurance advisors, investment analysts and financial planners. In fact, there are currently more than 70 different organizations that offer a certified-this or registered - that designation that can provide financial services.

• Choosing A Financial Planner. When choosing a financial expert, you want to be sure to select a qualified professional that you feel comfortable with and whose area of expertise fits your specific needs. Another important thing to remember is that - you’re in charge! The person you choose to handle your money works for you. Here are a few extra tips to help you find the right person: Know what you want. Is it estate planning or insurance protection? And what’s your comfort level in terms of risk? Will you be able to sleep through the night during wild swings in the stock market, for example? Know yourself beforehand. Run the numbers on your financial planner. Check their educational background, experience and specialties. How big is their practice and how long they have been in business? Will they give you references to people such as yourself? Will the financial planner handle your calls or will he have an assistant do it? Call the securities or insurance departments in your state and ask about each planner’s certification and history of complaints. Also check with their certifying or-ganization to see if they are authorized to use their certification and ask if they have ever been disciplined by that organization.

• Find out how the planner is paid and how much they charge. Some financial experts are paid a fee, based on the number of hours they put into your plan. Others are compensated from commissions based on products or services they sell you, like a type of insurance or a mutual fund. And some are paid by both fees and commission.

• Get it in writing! Ask the planner to provide you with a written agreement that details the services that will be provided and what they will cost. Also, be sure they are certified in each of these areas.

• Know your rights. You have the right to understand the risks with any financial recommendation that is made. You have the right to know that your confidential information is secure and the right to be involved in any decision involving your money.

Stuff Happens

A good thing to keep in mind when working with your financial planner is that stuff happens. Things like inflation, a bear stock market or tax laws might change. Remember that a good planner can help you prepare for the worst, but they can’t eliminate the risks. Also, don’t expect your financial planner to turn you into a millionaire but they should realistically be able to help you build and protect assets.

Savvy Tips: To help you find a good financial planner, start by asking your family members, friends, business associates, accountant or insurance agent. The Certified Financial Planning Board of Standards also offers a free Financial Planning Resource Kit, that can help you select a financial planner. Visit www. cfp.net or call 1-888-237-6275.

Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit www.savvysenior.org.