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TRUMP UNIVERSITY WEALTH BUILDING 101

• At this level, some will have a CFP or ChFC designation. This shows
more commitment to education, which often (but not always) shows a
better level of return for their clients.
• At this level, it can also make sense to go to a fee-only fi nancial planner;
planners who do not receive commission from their recommendations.
You should only work with a fee-only planner if he or she will sign an

agreement to act as a fiduciary for you. This is extremely important
because some only want to be held to a “suitability” standard; meaning,
they can recommend what is “suitable,” rather than what they think is
the best, and thus not look out for your interests. Those of you in the
first bracket—sorry. You don’t make enough money, or have enough

money, to spend your money on a fee-only planner.

You are upper income and have substantial assets. Here a top planner
makes sense for anything you don’t do yourself.

• Seek out a top 5 percenter, or at the very least, a top 20 percenter.
If fee-based, they charge much more than most fee-based planners.
Make sure they are really at the top. Looks can be deceiving.
• Ask other wealthy people you know for referrals (Most top planners
work on referral only, by the way, so you can’t just walk in and say,
“I want one.”).
• Do your own due diligence. Look at their plan. Make sure it’s
more than picking a few stocks and life insurance. At this level,
estate planning and asset protection are paramount. Again, I would
need to see their investment results and personal earnings from
investing, and have tremendous referrals as to their integrity and
performance before turning over my money.

Build a Trusted Team

Be wary of well-intentioned friends and family members who want to guide
you. I’m always amazed by the number of people with no real fi nancial suc-
cess who tell budding investors and entrepreneurs how they should conduct
their business affairs. It’s a strange phenomenon, but many people listen to
naysayers who have never achieved financial success. Those who aren’t

financially successful whine and complain about missing out on investment
opportunities after the fact, and they often try to discourage others from
investing in smart investment vehicles.

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