A Woman’s Intuition
I found it interesting that the majority of Mark’s clients are women. One of the first things he wants to debunk is the ridiculous myth that women are not good with money. He has seen first hand the power of female intuition – and believes women are born with innately good skills which allow them to understand money and investments- so we’re actually starting out ahead of the game!
But where does a woman – or anyone – get started on the road to financial planning? Mark urges all of us to educate ourselves as much as possible. Here are his top picks to get started!
- Your Money Or Your Life: Transforming Your Relationship With Money and Achieving Financial Independence by Vicki Robin & Joe Dominguez – The book focus is on how to “make a life, not just make a living”. Mark is also a contributor to the latest edition.
- Vanguard.com- The website has great educational tools.
- Personal Finance for Dummies – sure the name of the book is a little off-putting! But Mark says if you can get past the title, there is some really useful info inside!
What’s In A Name?
One of the problems with looking for a financial planner is that pretty much anyone can call themselves a 
financial professional. We found the SEC website helpful as a reference for the different professional designations to look for and what they all mean (you’ll notice the dizzying array of letters that come after peoples names – you need to learn what these titles and degrees actually mean and which ones count).
Fee-Only vs. Commission Based
Another thing to look for in a financial planner is ‘fee-only’ financial planning. A fee-only planner (like Mark) does not earn a commission or receive referral fees from recommending specific investments to his clients – he just gets paid a flat fee for his time and analysis. The vast majority of “advisers” out there are commission-based, so be aware of the difference. Be sure you ask any planner you are interviewing how they get paid – you need to know up front what the potential is for conflict of interest!
So now you know – there are planners out there you can turn to no matter how much money you have. The most crucial part to establishing a relationship with a financial professional is to do your homework – check backgrounds, get references, and of course trust your female intuition when choosing an adviser!
Mark Zaifman is based in Northern California and is a registered investment advisor and tax accountant. He speaks with clients all over the country. In addition – like most reputable firms – Spiritus offers a complimentary 30 minute intro consultation, which we would highly recommend doing before hiring anyone. For more info on rates or to schedule an appointment, check out their website at spiritusfinancial.com, or you can call them at 707-534-9478.
Pages: 1 2
GREAT article Stephanie!
Thanks for listening and really ‘getting’ what Mark and Spiritus is all about.
Stephanie couldn’t agree more. There is definitely significant value in seeking the assistance of a certified financial planner or CPA to plan out your financial future. There are some good online personal financial applications these days that allow you to monitor your budget and make some actionable decisions to improve your credit score but no application will be able to replace a financial professional. Good piece.
short side note, check your vanguard link. Anyway, I look forward to reading more of your pieces going forward.
Great article–Spiritus sounds like a wonderful company. Can you let us know how we should verify the record of a financial planner (like Mark Zaifman) before handing over all financial records and tax statements?! What sort of background check is standard and appropriate?
Thank you!
Hi Chris – Stay tuned, we have an article coming out next week on this very subject (background checking your financial planner)!
HI Chris – Be sure to check out our article this week – tips for how to choose a financial planner! Thanks — Fab & Fru