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Listen to the podcast on Inkandescent Radio This month on Peter Neuwirth's Money Mountaineering show: The Making of Diary of CFP® Pro

A Note from Actuary Peter Neuwirth: What's your future worth? That's what we will discover this month when Marguerita Cheng, CFP® Pro, is our guest. Learn all about her new book that helps women flex their financial muscles, "Diary of CFP® Pro."


Celebrate Financial Literacy in April with this newest book by Marguerita Cheng, CFP® Pro

In celebration of financial literacy month 2023, we can’t think of a better gift to women than to get a handle on their finances. Some may want to save more or invest more wisely. Others may need to find ways to work better with their partners on money issues or ensure they’ve saved enough money for their kids to attend college.

Whatever your financial goal, we hope this newest book by Marguerita will ensure your success: Diary of a CFP® Pro.

Each month, you learn essential tips to get you on a healthy financial path:

  • Introduction: 7 Important Tips You Need to Know Now About CFP® Professionals
  • January: 6 Personal Planning Tips to Help Navigate the Pandemic’s Financial Impact
  • February: 10 Tips for New Partners to Seamlessly Plan Together
  • March: Celebrate International Women’s Month with Mindful Financial Planning — 6 Tips for Women
  • April: How to Recession-Proof Your Retirement Income Plan
  • May: Preparing Financially for a Baby
  • June: Congrats, grads! Now Start Tackling Your Student Debt
  • July: In Celebration of Independence Day — Here’s What I Wish I Knew at the Start of My Career
  • August: 4 Ways to Cut Childcare Costs
  • September: How to Protect Your Elders from Financial Fraud
  • October: The Importance of Estate Planning: Create Your Legacy
  • November: When Impact Investing Is Worth It
  • December: How to Protect Your Credit Cards Online

Click here to send us an email to get your copy of the book, $5.

Scroll down for more information to get started! — Cheers to your financial success! 

Photos of Marguerita Cheng by Kate Hauschka

7 Essential Tips from Marguerita Cheng:

As a CFP® professional, I get a lot of questions about financial topics. Some, like whether you should have a budget and why your net worth matters, are simple to answer. Other questions require a more in-depth look into your situation and the guidance of a qualified financial professional.

If you’ve never worked with a financial advisor, you might have many questions about the CFP® certification. Here are seven essential answers to the most frequently asked questions about CFP® professionals.

  1. When should I hire a CFP® professional? When to hire an advisor is one of the most-asked questions about CFP® professionals. The answer is different for everyone. Sometimes a specific event can trigger the need for a CFP® professional, such as:
    • A life change or desire to make a life change
    • Approaching retirement
    • An inheritance or unexpected financial windfall
    • A financial crisis, such as a layoff or illness
  2. Is hiring a CFP® professional expensive? No. It’s more affordable than you might think, though the fee can depend on what services you need. An hourly fee might be appropriate if you need a one-time consultation or help with a short-term financial project. A monthly or annual fee can make more sense for ongoing financial planning. 
  3. Does a CFP® professional receive a commission? Some advisors earn a commission from selling products or services to their clients, while others charge by the hour or project. And some use a combination of the two. So there are only three options for a CFP® professional to receive compensation: commission-only, fee-only, and fee-and-commission.
  4. Are all CFP® professionals fiduciaries? Yes. A CFP® professional is required to act in the client’s best interest at all times. Being a fiduciary includes a duty of care and loyalty to all clients. This standard serves to promote ethical and competent financial planning. Whether an advisor is a fiduciary should be a frequently asked question, but many people aren’t aware of the difference a fiduciary can make. CFP® professionals commit to CFP Board—the certifying and standards-setting organization—to act at all times as a fiduciary when providing financial advice to a client.
  5. How often does a CFP® professional recommend updating a financial plan? A financial plan guides you to your long-term financial goals. It’s good practice to review your plan once a year. However, more frequent updates to your strategy are often necessary, for example, if you:
    • Get a raise
    • Have (or plan to have) children
    • Experience a financial setback
    • Change your career goals
    • Want to pursue a new financial goal
  6. Will a CFP® professional stay with a client long-term or rotate the client among other advisors in the firm? Some clients prefer to meet with the CFP® professional when hiring a financial advisor. Larger firms may have a team of people to handle your account. If you want to work one-on-one with a specific CFP® professional, make your expectations known during your initial meeting.
  7. Does a CFP® professional provide more than investment advice? Yes. CFP® professionals are excellent at analyzing financial information. While giving investment advice or managing your portfolio can be an everyday role for an advisor, a CFP® professional also provides financial planning beyond investment advice. Your financial plan should include a sound strategy to support you through retirement and even death. Retirement planning, tax reduction strategies, risk management, and estate planning are part of the comprehensive financial plan that a CFP® can provide. 

Click here to send Hope Katz Gibbs an email to buy your copy of the e-book!