National Association of Personal Financial Advisors (NAPFA)
Jim Grennen is a NAPFA registered financial advisor. NAPFA is the largest professional association of fee-only financial planners in the United States. It has over 800 members and affiliates, located in 45 states. NAPFA members subscribe to a strict fiduciary oath. In addition, members are required to fulfill significant continuing education requirements.
Accredited Investment Fiduciary® (AIF®)
Accredited Investment Fiduciary® (AIF®) Designees have been certified specifically for their ability to follow a fiduciary process with their clients’ best interests at heart. Here are some attributes that make AIF® Designees different from other advisors or financial professionals:
- Experience. Designees are required to provide documented industry and
educational experience to qualify for the designation.
- Education. Designees must complete the Accredited Investment Fiduciary® (AIF®) Training, which covers the Prudent Practices® for managing fiduciary assets for wealth, nonprofit and retirement clients.
- Examination. Designees must pass an examination to prove comprehension of the Prudent Practices® and ability to act in the best interest of clients.
- Ethics. Designees adhere to a Code of Ethics and Conduct Standards that show a commitment to a higher degree of industry professionalism.
- Continuing Education. Designees commit to keeping their knowledge and skills sharp by completing annual continuing education requirements.
All NAPFA members are also automatically members of the Fee-only Network. A fee-only financial planner (all NAPFA advisors are fee-only) is paid directly by the client on a transparent and pre-arranged payment plan. This can be an hourly or project rate, monthly retainer, or percentage of the investments managed. How a planner is paid is quite important because it can affect the advice that they offer to their clients.
CERTIFIED FINANCIAL PLANNER™
Jim Grennen earned the right to use the CFP® mark of distinction in 2002. He did this by completing a professional course of study followed by a rigorous two-day certification examination. In addition, he had to provide proof of extensive practical experience. To maintain certification, CFP® practitioners are required to satisfy ongoing ethics and education requirements.
IRS Enrolled Agent and National Association of Enrolled Agents (NAEA)
Enrolled Agents are federally authorized tax practitioners, empowered to represent taxpayers before the Internal Revenue Service (IRS) by the U.S. Department of the Treasury. The credential of an EA (Enrolled Agent) is valid across all 50 U.S. States, and he/she can represent taxpayers for audits, collections and appeals regardless of the severity of the tax problem.
IRS Enrolled Agents are able to handle a broad range of tax related problems, including documentation, auditing, preparing tax returns as well as representation, and do so on a regular basis every day for individuals, corporations, trusts and any other entities with tax reporting needs.
They are required to continue learning and adapting to the rapidly changing taxation scene, making them the most qualified and efficient tax professional to represent you before the IRS. Enrolled Agents may work on an appointment basis during tax season or on a full-time basis as part of a practice.
IRS Enrolled Agents offer the following services in addition to tax preparation and representation:>
- Accounting and bookkeeping
- Financial planning or budgeting
- Payroll services
- Financial statement preparation
- Mortgage help