Eleanor Blayney is a Certified Financial Planner® and Consumer Advocate for the CFP Board of Standards. Eleanor Blayney joins Jim Munchabach on today’s podcast. Eleanor will share what it means to be a Certified Financial Planner® and what it means for you to engage the services of a Certified Financial Planner®.
Eleanor Blayney strongly believes that families of all income levels should have access to professional financial planning assistance and that the financial world is too complex to shoulder alone. Eleanor Blayney helps to make financially complex ideas and strategies accessible and understandable. And she understands the importance of enforceable ethical standards that foster the trust needed to provide financial advice.
How Financial Planning Builds Confidence
Consumer confidence is a powerful economic force. Our attitudes and expectations about the future can determine what that future will look like. When confidence is high and growing, employers hire more workers, entrepreneurs take on more risk to grow business, investments produce greater returns.
Many Americans believe that it’s hard to muster confidence these days. There is just so much uncertainty. Financial success appears to be completely out of the average consumer’s control, given fiscal cliffs, tax and entitlement reform, market volatility, and global unrest. Add in the 24/7 news cycle, and the media’s bias toward the dramatic and the negative, and you certainly don’t have the best ingredients for a positive outlook on the future.
But here is an interesting finding: financial planning is a reliable and proven way to increase consumer confidence. In a 2012 study conducted by CFP Board and the Consumer Federation of America, those Americans who reported that they were living comfortably, are able to meet their financial goals, and feel in control of their finances are significantly more likely to have prepared a financial plan that those who did not.
“98% of us will die at some point in our lives. So, a little planning goes a long way.”
— Ricky Bobby (Talladega Nights)
Consumer Confidence is not Simply About Wealth
Middle-income Americans who do their financial planning are more positive about their financial futures than high-income Americans who do not bother to plan. Clearly, it’s not having money, but having a plan for it, that is most important.
The best way to get a financial plan in place is to find a professional financial planner who can be trusted to act in your best interest: someone who is qualified by education, experience, and examination to provide comprehensive advice on personal finance. Of the hundreds of advisor titles and designations, there is one that ensures these qualifications are met, and that the advisor is bound by strict ethical requirements. This is the CFP® certification.
The Good News About Financial Planning
As CFP Board’s Consumer Advocate, Eleanor is a crusader for building consumers’ financial confidence, and sharing the “good news” message that financial planning and working with a CFP® professional are ways to take control of your financial future. Please join Eleanor on CFP Board’s consumer website – www.LetsMakeAPlan.org – for articles, education, and blogs on financial planning topics, as well as advice and tools for finding a CFP®professional.
There you can start building the confidence you’ll need to survive and thrive in today’s uncertain world.
Thank you, Eleanor, for taking the time to be with me today on iMakeYourMoneyCount – the weekly podcast about money, life, and relationships.
I’ll talk to you soon!