During these tough financial times, hiring or changing a financial planner may be necessary. San Francisco Business Times ran an article today, Tuesday, February 24, 2009, about what to do when looking for a financial consultant.  The article, Hiring a Financial Planner, is detailed and worth reading.

For this blog I’m going to list the 4 “Quick Tips” to get you on your way.

1.  Conduct due diligence.
"The responsibility is on you to seek and employ a financial counselor who is competent and works for a credible company," says Laurence Barton, president and chief executive of The American College, a nonprofit educator of insurance and financial-services professionals based in Bryn Mawr, Pa. "Look at their resume, verify their certifications and check their references. If you find someone with charisma, but who lacks technical depth, keep looking."

2.  Look for an adviser with professional certification, as well as experience and expertise with small businesses in your industry.
Says Barton, "Have they provided counsel to others in a comparable situation? With experience in your industry, they'll understand the lexicon, the risks and the regulatory environment you face. If they don't ask you a lot of questions, find another adviser."

3.  Look for an adviser you are comfortable and compatible with. Open and honest communication is key.
"You're not looking for your next best friend, but you want someone you like and respect so there can be trust and rapport between you," says Moisand, a certified financial planner based in Melbourne, FL. "And it's worthwhile to have a conversation about personal style. How often will you meet and how - by phone, e-mail or face-to-face?"

4.  Understand the free structure.
To find a financial consultant, ask your attorney, accountant or other small-business owners for recommendations. Local business groups such as your local chamber of commerce can provide leads, Barton says. Organizations that award professional certifications often include a list of members sorted by region. The FPA Web site (www.fpanet.org) is one such source.