Affordable house hunt - how to begin financial planning and choose a financial advisor - Brief Article

Black Enterprise, May, 2001 by Monique R. Brown

Q I read the article you wrote on getting fiscally fit and found it to be very helpful. I would like to know if you can recommend a black financial advisor's firm in the Atlanta area that will help me get started? --Octavia Purgh Atlanta

We feature financial advisors located in various geographical areas in our Family Finances feature each month. You can start your search by contacting the ones in your area. However, everyone's financial landscape is unique, so I suggest that you gain some understanding of yours before you take anyone's advice. First, pick a financial goal that you can focus on that will help you stay motivated, whether it's your kids' college tuition or your own retirement. Then look at how you can reduce your expenses so you have an idea of how much cash you have to invest. In addition, start gathering as much financial data as you can, such as your most recent pay stubs, W2 forms, last year's tax returns, and bank and investment statements.

Next, get referrals from friends, family, co-workers and various organizations. For example, you can pull up a selection of African American investment professionals by state on the Coalition of Black Investor's Website (www.cobinvest.com). Other sites such as the Financial Planning Association (www.fpanet .org) and the Certified Financial Planner Board of Standards (www.cfp-board.org) also make referrals although they're not specifically African American. -- Monique R. Brown

Mail your consumer questions to Ask Your Advocate, BLACK ENTERPRISE, 130 Fifth Ave., New York, NY 10011, or send an e-mail to brownmr@blackenterprise.com