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Home > Consumer Focus Archive > Get Help From A Professional
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Consumer Focus: Get Help From A Professional
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Get Help From A Professional
 Hiring a financial planner, attorney or home contractor can be daunting. Be prepared to do some research before you make a decision. A little time up front can save you a lot of hassle and money in the long run.
Posted: May 1, 2005
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 Getting Started
Here are some general tips that apply to service providers:
- Take notes as you interview them. These will help you keep the various companies, firms, and individuals straight.
- Interview more than one candidate. You may be surprised at how much the services and costs might vary.
- Get everything in writing. You should note down conversations, but a signed contract is the only enforceable document.
- Keep in mind that estimates are just that – estimates. The final price can be higher than either of you anticipated.
- Find out how much experience the firm or individual has. How does he or she keep up with developments in the field? For example, lawyers in many states must earn a certain amount of continuing legal education credits (CLEs) each year.
- Ask about certifications, such as Certified Financial Planner (CFP). Is the contractor you want to hire a member of the local Better Business Bureau? This is an indication that the company will work with you to resolve any problems that arise.
- Find out how many customers the professional currently has. For example, a home contractor may not be able to start work on your house right away if there are other clients whose jobs are ahead of yours.
- Ask friends or family for recommendations.
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 Financial Advisor
You may want to hire a financial advisor if you are buying a new home, planning for retirement, or saving for your children’s education. In addition to the tips above, keep the following in mind.
- Make sure the planner has expertise in your area of need. For example, insurance, tax planning, investments, or estate planning.
- A financial planner can help you with just one area, or he / she can develop one plan by bringing all your goals together. Decide in advance which is better for you.
- Be cautious if the financial planner suggests overly aggressive strategies. Younger people have time to recoup losses, but folks close to retirement age are generally advised to make more conservative investments.
- Some financial planners you pay directly by the hour. Others work for larger companies who pay them a salary. Or you might pay the planner directly in another way (flat rate, commission, a percentage of your assets).
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 Attorney
You should consider hiring an attorney if you have been accused of committing a crime, are filing for bankruptcy or divorce, or are starting a business.
- Look for attorneys that specialize in the field where you need assistance.
- Before you go to meet with an attorney, find out if there is a consultation fee. Consultations generally last 15 minutes to half an hour.
- Ask them when they last handled a case like yours, and if they won or lost.
- You need to be prepared with answers as well. For example, record dates that may be important to your case. Bring copies of documents such as contracts and names and phone numbers of witnesses if your case involves an accident.
- You may be charged a flat fee for legal services or an hourly fee. For example, flat fees usually apply if you are having a will drawn up.
- Contingency fees are often used in cases involving personal injury, medical malpractice, and workers' compensation. It means that you will pay the lawyer a certain percentage of the money you receive if you win the case or if you settle it out of court. If you lose, the lawyer does not receive a fee. However, you will still have to pay any court costs and other expenses that are involved.
- If you do not understand your bill, you are entitled to an itemized list of expenses. This will spell out costs incurred for telephone calls, travel, and photocopying, to name a few.
- There are special considerations for business owners. If your business is being sued, or you need an attorney for other reasons, read the advice on Business.Gov.
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 Home Contractor
It is important to know the roles each person plays when you hire a home contractor:
- General Contractors manage all aspects of your project, including hiring and supervising subcontractors, getting building permits, and scheduling inspections.
- Specialty Contractors install particular products, such as cabinets and bathroom fixtures.
- Architects design homes, additions, and major renovations. If your project includes structural changes, you may want to hire an architect who specializes in home remodeling.
- Designers have expertise in specific areas of the home, such as kitchens and baths.
- Design/Build Contractors provide one-stop service. They see your project through from start to finish. Some firms have architects on staff; others use certified designers.
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 More Great Tips
Regardless of the type of contractor you use, consider these tips:
- Reputable contractors generally list their name, phone number, and address in the local telephone directory. Be wary of a contractor who does not. You may have trouble locating them if there is a problem.
- Most states and localities require permits for building projects, even for simple jobs like decks. A competent contractor will get all the necessary permits before starting work on your project. Be suspicious if the contractor asks you to get the permit(s). It could mean that the contractor is not licensed or registered, as required by your state or locality.
- Contractors should have personal liability, worker’s compensation, and property damage coverage. Avoid doing business with contractors who don’t carry the appropriate insurance. Otherwise, you’ll be held liable for any injuries that occur during the project.
- Try to make payments during the project contingent upon completion of a defined amount of work. This way, if the work is not proceeding according to schedule, the payments are also delayed.
- Your contract with the contractor should contain an estimated completion date. You may also want to include a “broom clause,” so that spill and site clean-up and trash hauling are included in the price. Keep a copy of the contract, along with notes and dates of your conversations with the contractor.
- Take photos of the job as it progresses. Disposable cameras make it easy and inexpensive, and a digital camera allows you to see the pictures as you take them, so you know you have a clear picture of the work that has (or hasn’t) been done.
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Other
Resources
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