Ask for recommendations:
Advisors you trust, business associates and friends may be able to recommend CFP practitioners they know. A list of CFP practitioners in your area may also be obtained by contacting the Financial Planning Association (FPA), a membership organization, at 800-282-7526 or visit its website

Interview several practitioners:
Ask them to describe their background and specialty areas. Request references from current clients. In addition, ask if the advisor has a current registration or disclosure statement available that may contain detailed information regarding compensation, conflicts of interest, business affiliations and personal qualifications.

Make sure you understand the practitioner's services and method of compensation:
Request a written advisory contract or engagement letter to document the nature and scope of services the planner will provide. In addition, the advisor should clearly explain how he or she expects to be compensated. Generally, compensation takes one of three forms:

1) Fees:
A fee is based on hourly rate, flat rate per plan, or perhaps on the value of your assets and/or income.

2) Fees and commissions:
Fees are charged depending on the amount of work to be done. If you choose to implement the planning recommendations through the individual, he or she may also receive commissions from products purchased or sold. (Some advisors may offset some portion of their fees if commissions are received in implementing the plan.)

2) Commissions:
No fee is charged for the planning process, but the advisor is compensated from products purchased when the plan is implemented. It is important to note that the implementation of a financial plan may not require the purchase of financial products or investments. The plan may simply recommend the use of appropriate financial procedures and strategies to accomplish your objectives.

Evaluate your rapport:
Several financial planning practitioners may be equally competent. Select the one with whom you feel most comfortable.