Last week, I had the pleasure of getting “straight talk” about wealth building strategies top financial planner Paul F. Ciccarelli, Vice President, CFP®, CLU®, ChFC®. Paul answered questions about the work he performs to build clients’ financial assets every day. Paul’s company, Ciccarelli Advisory Services, Inc. of Naples, Florida, has been named (2008) to both the “Winner’s Circle®” Top-Ranked Advisor Teams in America in Research Magazine and as a Top 100 Independent Financial Advisers in Barron’s Business and Financial Weekly. The practice is a second-generation wealth management business.

Paul’s father, Frank, and co-author Lauren Dutton (known by many as the “father of financial planning”) wrote a classic article about how to help clients achieve financial independence for the College of Financial Planning. We’ve shared the article because, like most great financial advice, how to build personal or client wealth isn’t a fast or easy trick. Building financial assets, especially if you’re starting with modest means, requires the ability to save some of your earnings (initial capital). Understanding the impact of taxes on financial planning–and the sharp pencil of your experienced Certified Financial Planner–will help build wealth over time.

The debate continues about whether CFPs should work as fee-only or FINRA and insurance-licensed salespeople. The important bottom line for many clients is the bottom line. If the CFP recommends a mix of financial products (insurance, cash management, and investments), the ability of the CFP’s recommendations should increase client wealth over time. The CFP’s ability to help the client save money on taxes and achieve higher real rates of return depends upon a deep understanding of the client’s assets and financial goals.source: financialservices.about.com/