Leo Anzoleaga, a Certified Mortgage Planning Specialist & Senior VP of Residential Lending at NEO Home Loans, discusses the importance of hiring a financial planner when the time is right. Financial planners help set milestones, navigate financial decisions, and manage debts, assets, and investments. They provide clarity on where you are now, where you want to be, and how to bridge that gap through goals-based planning and investing. Anzoleaga emphasizes the role of a financial planner in ensuring clients are on track financially.
Anzoleaga recommends hiring a certified financial planner for comprehensive financial planning. Certified financial planners (CFPs) have extensive experience and must pass a rigorous exam to receive their certification. CFPs can advise clients on various aspects of their financial picture, including real estate and investments. Anzoleaga collaborates with CFPs to provide insights into mortgage scenarios and situations that clients may not have considered. He highlights the importance of pre-purchase planning to diversify assets and investments and make informed decisions during the real estate transaction.
CFPs, as fiduciaries, are required to prioritize the client’s best interests over their own or their firm’s. Anzoleaga advises sticking with a CFP for holistic, long-term financial planning. He lists signs that indicate it may be time to hire a CFP, such as needing guidance on financial decisions, receiving a large sum of money, retirement planning, changing family dynamics, approaching major life transitions, or requiring a financial plan for specific needs. Anzoleaga stresses the value of professional financial advice, especially when managing complex financial situations.
When considering hiring a financial planner, Anzoleaga suggests asking important questions during initial consultations. These questions may include whether the planner acts as a fiduciary, their fee structure, experience, credentials, specialization in financial planning areas, types of clients they work with, and how they have helped others in similar situations. Anzoleaga encourages individuals to evaluate their financial situation, outline their financial goals, and determine whether a financial planner would be beneficial in achieving those goals effectively. He advises consulting with a licensed professional for personalized advice.
The insights provided by Leo Anzoleaga highlight the role of a financial planner in helping individuals achieve their financial goals and navigate complex financial decisions. By collaborating with certified financial planners and emphasizing the importance of fiduciary responsibility, Anzoleaga underscores the value of professional financial advice. He encourages individuals to consider hiring a financial planner based on their specific financial needs and goals, emphasizing the importance of thorough evaluation and consultation with licensed professionals for personalized financial guidance.
