Financial advisors have been trained in the Collaborative Family Law approach and function as an objective third party consultant to help resolve financial concerns arising from a separation.
The financial advisor may, depending on the issues and their qualifications:
• Gather information pertaining to family finances.
• Listen respectfully to the financial goals of the spouses and assist them to identify their goals and interests.
• Advise one spouse as a consultant within the COLA process, or provide neutral advice to both parties.
• Assist with immediate financial concerns as well as long-range financial planning.
• Assist with the preparation of budgets and money management where appropriate.
• Provide pension valuations. Provide tax advice.
• Provide recommendations on the allocation of financial resources.
• Participate in collaborative team meetings to ensure financial concerns are clearly understood and considered.Qualifications:
1. Professional license or designation in good standing in one of the following:
Certified Divorce Financial Advisor (CDFA)
Certified Financial Planner (CFP)
Certified Public Accountant (CPA)
Certified Business Valuator
2. Background, education and experience in some or all of the following:
Financial aspects of divorce
Cash management and spending plans
Retirement and pension plans
Taxes
Investments
Insurance
Property division
Individual and family financial planning concepts
3. Financial advisors must have a minimum of 18 hours of Level One Interdisciplinary Collaborative Training.