Consider This...News Tips & Topics
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Archive Press Room Contacts About GA Credit Unions

CONSIDER THIS: Since economic recovery has turned out to be a slow process, many Americans now realize the future won't wait forever and they should begin working toward long-term financial goals. Many people are turning to financial planners for help, while others assume financial planners can only help those with substantial funds to invest. Can financial planners help those with middle-class aspirations? Is it possible to have a plan for the future, even when finances are tight? This year could mark the rise of financial planners serving a wider segment of the population.

According to Phillip Lambing, Jr., Independent Sales Manager for CUNA Brokerage Services, Inc.,* "Everybody needs some coaching." He adds that the most common areas for which people seek the advice of a financial planner are retirement planning and college education planning; however, planners can also offer assistance with things like life protection and long-term care.

Lambing explains that a financial planner can help clients determine the level of risk they're comfortable with when it comes to investing money - that could range anywhere from the stock market to certificates of deposit. Financial planners also help clients establish goals that are specific.

"Planning for college isn't specific enough," says Lambing. "Do you need to save enough for a state university or an Ivy League education?"

You may want to know:

  1. Who can benefit from using a financial planner?
  2. At what age should you consider consulting a financial planner?
  3. What is the scope of services offered by financial planners?
  4. Can financial planners benefit people who don't have large amounts of money to invest?
  5. How much does it cost to consult with a financial planner?
  6. How do you choose a qualified financial planner?

An insider's perspective:

"Financial planning is an important element to financial health, which is an important part of our mission," says Australia Hoover, senior vice president of CDC Federal Credit Union. "It's really never too early to start consulting with a financial planner."

According to Hoover, many members seek out financial planners in response to major life events like a first job, first child, children going off to college, retirement planning, estate planning, or long-term care.

"Individuals should contact the planner when they are interested in having a partner to help navigate their financial roadmap," says Hoover. "There are so many options available to consumers today and without help, it can be confusing. No amount of money is too small to consider talking with a planner."

* Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800-369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.

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*Views and opinions expressed on these videos do not necessarily reflect those of Georgia Credit Union Affiliates.

Additional Information
How to Choose a Financial Planner: This article from The Wall Street Journal provides tips for selecting a financial planner.
Do You Need A Financial Adviser? This Forbes article examines what everyone should know about financial planners.
Get to Know Us: This Financial Industry Regulatory Authority publication gives information about its mission to protect investors.
Financial Planners: The U.S. Securities and Exchange Commission provides background information on financial planner designations, and how to choose a financial planner.
10 Reasons Why You Should Use a Fnancial Planner: This article gives 10 reasons to use a financial planner.

State Contacts

Anita Paul
Director of Communications, GCUA

Local Contacts

Georgia Credit Union Affiliates