SPLK-1005 mock - Splunk Cloud Certified Admin Updated: 2024 | ||||||||
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Exam Code: SPLK-1005 Splunk Cloud Certified Admin mock January 2024 by Killexams.com team | ||||||||
Splunk Cloud Certified Admin Splunk Certified mock | ||||||||
Other Splunk examsSPLK-1003 Splunk Enterprise Certified AdminSPLK-1001 Splunk Core Certified User SPLK-2002 Splunk Enterprise Certified Architect SPLK-3001 Splunk Enterprise Security Certified Admin SPLK-1002 Splunk Core Certified Power User SPLK-3003 Splunk Core Certified Consultant SPLK-2001 Splunk Certified Developer SPLK-1005 Splunk Cloud Certified Admin SPLK-2003 Splunk SOAR Certified Automation Developer SPLK-4001 Splunk O11y Cloud Certified Metrics User SPLK-3002 Splunk IT Service Intelligence Certified Admin | ||||||||
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Question: 1 Which configuration file parameter can be used to modify line termination settings interactively, using the Set Source Type page in Splunk Web? A. LINE_BREAKER B. SHOULD_LINEMERGE C. BREAK_ONLY_BEFORE D. TRUNCATE Answer: A Question: 2 What is the name of the process that breaks the stream of raw data into individual lines called events? A. Line breaking B. Event annotation C. Event transformation D. Timestamp extraction Answer: A Question: 3 What is the name of the configuration file where you can specify the source type for a data input? A. limits.conf B. props.conf C. inputs.conf D. transforms.conf Answer: B Question: 4 What is the name of the Splunk Cloud feature that allows you to get data from APIs and other remote data interfaces through scripted inputs? A. Splunk Cloud Data Connectors B. Splunk Cloud Data Integrations C. Splunk Cloud Data Collectors D. Splunk Cloud Data Sources Answer: C Question: 5 Which configuration file needs to be edited to enable local indexing on the forwarder? A. outputs.conf B. inputs.conf $13$10 C. props.conf D. transforms.conf Answer: B Question: 6 What is the name of the default field that stores the timestamps in UNIX time when data is indexed? A. _time B. _timestamp C. _date D. _epoch Answer: A Question: 7 What is the name of the tab in Splunk Web where you can set the indexes that a role can access? A. Inheritance B. Capabilities C. Indexes D. Restrictions Answer: C Question: 8 Which feature of forwarders can prevent data loss in case of network failure or congestion? A. Data compression B. SSL security C. Configurable buffering D. Persistent queues Answer: D Question: 9 Which type of forwarder can act as an intermediate forwarder to receive data from other forwarders and send it to the indexer? A. Universal forwarder B. Heavy forwarder C. Light forwarder D. Any type of forwarder Answer: B Question: 10 $13$10 Which type of forwarder can perform data parsing and enrichment before sending it to the indexer? A. Universal forwarder B. Heavy forwarder C. Deployment server D. Search head Answer: B Question: 11 Which setting in inputs.conf can be used to specify the SSL certificate for a TCP or UDP input? A. sslCertPath B. sslRootCAPath C. sslPassword D. All of the above Answer: D Question: 12 What is the name of the component that acts as a data manager and sends data to Splunk Cloud Platform indexers? A. Heavy forwarder B. Universal forwarder C. Deployment server D. License master Answer: A Question: 13 Which file processor can be used to index files that are not actively written to or updated? A. Monitor B. MonitornoHandle C. Upload D. None of the above Answer: A Question: 14 Which type of forwarder is a full Splunk Enterprise instance that can run apps and add-ons? A. Universal forwarder B. Heavy forwarder C. Deployment server D. Search head Answer: B $13$10 Question: 15 Which configuration file needs to be edited to configure the universal forwarder to act as a deployment client? A. deploymentclient.conf B. server.conf C. outputs.conf D. inputs.conf Answer: A Question: 16 Which command can be used to install a universal forwarder on a Linux system? A. splunk install forwarder B. splunk forwarder install C. splunk add forward-server D. splunk enable boot-start Answer: D Question: 17 Which setting in inputs.conf can be used to specify the command to run the script for a scripted input? A. script B. command C. exec D. run Answer: A Question: 18 What is the main advantage of self-service Splunk Cloud over managed Splunk Cloud in terms of cost and control? A. Self-service Splunk Cloud costs more to get started and maintain but allows your organization total control in setup and security configurations. B. Self-service Splunk Cloud costs less to get started and maintain and allows your organization total control in setup and security configurations. C. Self-service Splunk Cloud costs more to get started and maintain and requires your organization to rely on Splunk for setup and security configurations. D. Self-service Splunk Cloud costs less to get started and maintain but requires your organization to rely on Splunk for setup and security configurations. Answer: B Question: 19 Which option in Splunk web can be used to access the Guided Data On-boarding feature? $13$10 A. Add data B. Data inputs C. Data summary D. Data models Answer: A Question: 20 Which Windows-specific input type allows Splunk software to read special Windows log files such as the DNS debug server log? A. MonitorNoHandle B. Windows Event Log C. Windows Registry D. Windows Management Instrumentation (WMI) Answer: D Question: 21 What is the name of the dashboard that provides information on incoming data consumption and indexing rate for your Splunk Cloud Platform deployment? A. Indexing Performance B. Indexing Quality C. Indexing Status D. Indexing Overview Answer: D Question: 22 Which configuration file determines how a universal forwarder forwards data to the indexer? A. inputs.conf B. outputs.conf C. props.conf D. transforms.conf Answer: B Question: 23 What is the name of the attribute that specifies the sed script for data transformation in the props.conf file? A. SEDCMD B. FORMAT C. DEST_KEY D. TRANSFORMS $13$10 Answer: A Question: 24 Which setting in inputs.conf can be used to specify the interval at which the script runs for a scripted input? A. interval B. frequency C. schedule D. cron Answer: A Question: 25 Which Splunk add-on simplifies the process of getting data into Splunk Cloud Platform from Windows Event Log channels? A. Splunk Add-on for Windows B. Splunk Add-on for Infrastructure C. Splunk Add-on for Active Directory D. Splunk Add-on for DNS Answer: A $13$10 | ||||||||
Machine data analytics software developer Splunk is expanding its channel reach, unveiling plans to add tracks in the company's Partner+ channel program for OEM and systems integrator partners in 2019. The company, which is holding its .conf18 customer conference in Orlando this week, just went live in August with a channel program for distributors, creating a global framework that offers distributors pay-for-performance incentives and rebates. This week's channel announcements also included upgrades to the partner certification program and an expanded global rebate offering that rewards partners for sales engineering training and recruiting new customers. [Related: Splunk To Acquire VictorOps, Provider Of DevOps Incident Management Tools] "Splunk is really focused on developing an expansive partner ecosystem," said Brooke Cunningham, area vice president, global partner programs, marketing and operations, in an interview with CRN prior to .conf18. "Everything we're doing from a product perspective, we're thinking about how partners can add value on top of Splunk." Splunk has been growing its Partner+ channel program in recent years, which now covers more than 1,600 VARs, global systems integrators, OEMs, distributors, MSPs and technology alliance partners. Cunningham said the ranks of MSP partners has been a significant growth area for Splunk, which signed on 23 MSPs as partners in the third quarter. "Since becoming a partner in 2014, our growth with Splunk has been significant and has allowed RTP to leverage our entire portfolio to provide turnkey solutions to our customers," said Jim Sallusto, senior managing director with RTP Technology, a Paramus, N.J.-based IT solutions and professional services provider, in a statement. He praised the services and tools offered through the Partner+ program, as well as the support provided by Splunk's partner teams. While Splunk has long worked with partners of all types, it has been steadily adding tracks for specific partner types in recent years, including a tract for referral partners earlier this year and the track for distributors, which went live in August. The new OEM track will assist software developers and solution providers that embed Splunk software within their products, enabling turnkey reporting, data forensics and big data analytics applications. The new systems integrator track will assist SIs that build vertical solutions on the Splunk platform. Both tracks are slated to launch at Splunk's Global Partner Summit next year. The Splunk Certification Program upgrades include all new exam content, according to the company, as well as three new certifications and a more secure exam platform. In addition to the partner program announcements, Splunk debuted a number of upgrades and enhancements across its product portfolio, including in its IT management and security software. Splunk debuted the 7.2 release of its Splunk Enterprise and Splunk Cloud platforms and what the company calls "Splunk Next," a series of upcoming technologies that will widen the potential audience of Splunk system users and provide access to more data sources. The company launched a new edition of Splunk IT Service Intelligence (ITSI), which IT management teams use to better predict and even prevent IT system problems. Splunk ITSI 4.0 includes new key performance indicator capabilities to predict KPIs in such areas as customer experience, application workloads and IT infrastructure health. The 4.0 release also offers deeper predictive cause analysis capabilities and integration with DevOps management software from Splunk's recent acquisition of VictorOps. Splunk also announced new capabilities for its security offerings including new security automation, orchestration and response features in the Splunk Enterprise Security. Some of those new capabilities stem from Splunk's February acquisition of Phantom Cyber. On Wednesday Splunk announced the general availability of Splunk for Industrial IIoT, the company’s first solution specifically for Internet of Things tasks. The software combines the capabilities of Splunk Enterprise, Splunk Machine Learning Toolkit and Splunk Industrial Asset Intelligence. HardwareIdentifying, using, and connecting hardware components and devices Operating SystemsInstall and support Windows OS including command line & client support. Understand Mac, OS, Linux and mobile OS Software TroubleshootingTroubleshoot PC and mobile device issues including application security support Hardware & Network TroubleshootingTroubleshoot device and network issues NetworkingExplain types of networks and connections including TCP/IP, WIFI and SOHO SecurityIdentify and protect against security vulnerabilities for devices and their network connections Mobile DevicesInstall & configure laptops and other mobile devices Virtualization and Cloud ComputingCompare and contrast cloud computing concepts and setup client-side virtualization Analysts publish ratings and price targets on most stocks. Benzinga tracks 120 analyst firms so investors can understand if analysts expect a stock to trade higher or lower. Ratings are directional and typically buy, sell or hold. Price Targets are an analyst's best guess at where the stock will trade in 12 months. Jim Kinney, president and CEO of Indianapolis-based solution provider Kinney Group, makes a bold observation about Splunk, the big data software developer that his company has partnered with for four years. Splunk and its technology "sure has the feel of being on the front of something gargantuan," Kinney says. "This has the feel of VMware back in '05 or '06." Splunk, founded in 2003, is hardly a startup. But the developer of operational intelligence software for instantly searching, monitoring and analyzing machine-generated data is getting more attention these days beyond its core IT operations and IT security customer base. Splunk's platform is finding its way into an increasingly broad range of business analytics and big data applications, and the company is positioned to be a key technology player in the nascent Internet of Things arena. [Related: Splunk Expands Machine-Learning Capabilities Of Its Operational Intelligence Software] It's also attracting more attention from solution providers as the company, after relying primarily on direct sales for the first decade-plus of its existence, has been ramping up its channel efforts in the last two years. The channel should take notice. Splunk (whose name comes from the cave exploration term "spelunking") is closing in on $1 billion in annual revenue, having recorded 43 percent sales growth in the first half of fiscal 2017 to $398.7 million. Analysts have put the vendor's total potential market at $46 billion to $58 billion, and observers say the company's sales could hit $5 billion as soon as 2020. The San Francisco-based company's customer base grew from approximately 10,000 as of July 31, 2015, to more than 12,000 on July 31 of this year, according to a recent filing with the U.S. Securities and Exchange Commission. CEO Doug Merritt, speaking at Splunk's .conf2016 customer and partner event in Orlando late last month, said he thinks "at least half" of the company's sales should ultimately go through the channel. "When I walked in we were [following] a more direct-centric model," said Merritt, who joined Splunk in May 2014 as senior vice president of field operations and was named the president and CEO in November 2015. "I came in the door jumping up and down about the channel, about partners in general. It felt like an opportunity for growth for us." Merritt, both at .conf2016 and in an exclusive interview with CRN, acknowledged that Splunk was slow to leverage the channel. "Splunk has been difficult for people to understand," he said, and recruiting resellers is a challenge "when you're an early pioneer, and you're evangelizing a new [technology] category. Splunk does not disclose what percentage of its sales go through the channel today or how many channel partners it works with. The recent SEC filing, for the company's second fiscal quarter ended July 31, said the company "expect[s] that sales through channel partners in all regions will continue to grow as a portion of our revenues for the foreseeable future." Splunk's software was initially developed to collect and analyze operational log data from IT systems for system administration tasks. But Splunk and its more forward-thinking customers have come to realize the technology can be used to collect and analyze almost any kind of streaming real-time data, from IT operations and IT security systems, to data produced by machines on a factory floor, to sensors that make up an Internet of Things network. That positions Splunk to play a pivotal role in the burgeoning big data market. Merritt and other Splunk executives make it clear that as the Splunk Enterprise flagship product evolves from a toolset for programmers into a data management platform with a broad range of use cases, the channel will play a critical role. The channel will provide both "feet on the street" for the sales scalability that wouldn't be possible with the vendor's direct sales force, and the vertical industry and domain expertise needed as Splunk's software is used for new applications. Merritt, in a press briefing at .conf2016, said Splunk's growth depends on getting the platform into hundreds of thousands of accounts, "and the channel, in particular, is going to be incredibly important for us to get there." "We look at how many [sales] people we can hire and train [for] carrying Splunk to our customers, versus how many people the channel has," Merritt said. "[If] we enable them properly, there is so much more capacity in the channel than there is [inside] Splunk." Splunk CTO Snehal Antani, speaking at the same event, said partners would be especially critical as the use of Splunk's software grows beyond its core IT DevOps and IT security applications into broader business analytics and Internet of Things use cases. "The channel and partners become really important in IoT and business analytics," said Antani, the former GE Capital CIO who was named CTO in May 2015. "You need to have retail domain expertise, or healthcare domain expertise, or financial domain expertise to really get the value out of that data. We've got the enabling technology, but [partners have] got the domain expertise. "For us, getting the channel right is important for [sales] scale. But getting the channel right is especially important for us to move into other types of use cases that are much more domain-specific," Antani said. So Splunk understands its need for the channel. What does the channel say? Trace3, an Irvine, California-based solution provider focused on big data and cloud technologies, has worked with Splunk for five years and built a Splunk practice that generated $7 million in revenue in 2014 and $14 million last year. The company, an Elite level partner, was Splunk's 2015 North American "Partner of the Year." "I think Splunk is certainly still learning and developing themselves as a channel company," said John Ansett, Trace3's director of operational intelligence, of the company's Spunk relationship. Four or five years ago "they were very much a direct company" with some conflict with partners at the sales level, he said. "That's absolutely changed in the last 18 to 24 months." "Now I see them using the channel and leveraging the partners a lot more than in the past. They recognize that their ability to scale is going to be through the channel and for them to get there they recognize that partners are really the way to get there," Ansett said. Other partners also paint a portrait of a company in transition. "Are there bumps in the road as they take on more of a channel-oriented model? Sure," said Jim Kinney. "This is a company of fantastic people that are just incredibly passionate about what they are doing. And they treat their partners really, really well. That has meant the world to us." "From a listening standpoint and ability to work with, they are as good as any vendor partnership I've had," said Jeff Swann, director of solutions architecture at OnX Enterprise Solutions, a Splunk Elite partner and North American solution provider headquartered in Toronto and New York. "They're very interested in working with their partners," said Swann, who works in OnX's Mayfield, Ohio, office and manages OnX's relationship with Splunk and sits on the company's partner advisory council. Partners generally give good – but not great – grades for the nuts and bolts of its Partner+ channel program. Swann says the partner portal and other tools are "very good" and the marketing materials and content are "very easy to use and modify." Kinney said he'd like to see more dedicated resources to help partners hire and train more engineers with Splunk expertise for development and customer support. Trace3's Ansett said the partner program lags other vendors in such areas as rebates and revenue-commit offerings. Splunk's Merritt, at the press conference, pointed to the partner portal and deal registration systems the company assembled and the channel neutrality policy put in place last year as signs of progress, but he acknowledged that those steps are just a start. The company's channel efforts may have suffered a setback in February when Emilio Umeoka, vice president of global alliances and channels, left to become head of education sales at Apple. In March the company hired Susan St. Ledger, Salesforce's chief revenue officer, as Splunk's new CRO, overseeing all revenue generating and customer facing operations. In July, Splunk hired Cheryln Chin, a senior vice president at Good Technology, to replace Umeoka as vice president of global partners. Aldo Dossola is area vice president of North America partner sales, reporting to Chin. In April Splunk hired Brooke Cunningham, a highly respected channel marketing executive with business analytics software developer Qlik, as area vice president of worldwide partner programs and operations. "I saw an opportunity to come and really help define that partner experience," Cunningham said in an interview before .conf2016, noting that she has the job of taking Splunk's partner program to the next level. "We're really diving into how we continue to mature the Partner+ program," she said, specifically citing "investments in infrastructure" that are in the works for the partner portal and other support systems. At .conf2016 Splunk announced a new licensing initiative that, starting Nov. 1, will provide free licenses for test and development purposes. Partners said that move would make it easier for partners to help customers expand their use of Splunk by giving them more opportunities to experiment with the software. Swann pointed to Merritt's plans to expand education and training opportunities for partners – including free online training – and efforts to grow the number of Splunk-certified developers and engineers as promising moves to expand the overall ecosystem. "They're doing all the right things," said Ansett at Trace3. "They're putting in the right resources [and] they have the right leadership in place. And I'm starting to see them go 'partner-first.'" But it's the potential of Splunk's software that really gets partners excited. "Security is certainly the biggest growth area," said Ansett, although IT operations applications now account for the biggest part of Trace3's Spunk-related revenue. Sales for Internet of Things applications are small, he said, but growing. Splunk is key to OnX's security intelligence, operational analytics and DevOps practices. Swann said a successful strategy is getting Splunk into a customer for a specific application, then expanding the sales to other areas once the customer understands Splunk's capabilities. "For our organization, it makes us more sticky," he said. "Once we get in, we find lots of other use cases." Splunk is playing an increasingly important role in two of Kinney Group's core practices: analytics and next-generation data centers. Splunk is now the primary platform for its business analytics services, as with a predictive analytics project Kinney recently developed for a medical equipment management company to better anticipate equipment failures, said Laura Vetter, Kinney's vice president of analytics. Splunk's software was also a component of a major PCI (Payment Card Industry) data security project Kinney developed for a leading IT hosting provider. Last month Splunk debuted Splunk Enterprise 6.5 with expanded machine learning technology and new features that improved its advanced analytics capabilities. New integrations with Hadoop and simpler data preparation tools helped reduce the product's total cost of ownership – a significant point according to one partner who told CRN that the market perceives Splunk's software to be expensive. As to his case of VMware déjà vu, Jim Kinney says that in VMware's early days top managers at businesses that implemented the vendor's virtualization software didn't initially grasp the technology's potential. Once they did, VMware sales exploded. Kinney thinks Splunk is reaching the same tipping point as awareness of what the company's software can do expands beyond the data center. "Our company has made a pretty significant financial wager [on Splunk]," he said, "and it absolutely has paid off and is providing returns." Rules, Regulations and Standards
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Lorman is a graduate of MCP-Hahnemann University (now Drexel University) with a Master's Degree in Nursing and is a board certified psychiatric nurse practitioner and is certified as an advanced practice addictions specialist (CARN-AP). He completed his doctoral studies at the American University in Santa Ana, California and also has completed work at the Philadelphia School of Psychoanalysis as a Freudian psychoanalyst. He maintains a private practice in addition to being on the faculty of Drexel University in the graduate nursing program. Lorman is on the medical staff at Livengrin Foundation in Bensalem, Pennsylvania where he also holds the position of Vice President & Chief Clinical Officer. In his position he is responsible for all clinical staff and programming for this Addiction Treatment/Dual Diagnosis facility which provides detoxification, residential rehabilitation and outpatient services at eight locations in the region. In his private practice, he works with adults who suffer from a full range of psychiatric disorders — mild depression to severe psychosis — and he specializes in addiction psychiatry. He also works with patients who develop psychiatric symptoms as a result of medical conditions. He utilizes a psychoanalytic-medical model and provides services that include individual & group psychotherapy, psychiatric evaluations and medication management. In addition to his academic and clinical experience, Lorman has presented seminars on various mental health topics, has written multiple articles and textbook chapters and is a management and clinical consultant to several major corporations where he provides therapeutic and group facilitation services. AccreditationOutcome Target Audience Overall program objective Contact hours Accreditation Drexel University (DREXEL) College of Nursing and Health Professions, Division of Continuing Nursing Education is accredited as a provider of nursing continuing professional development by the American Nurses Credentialing Center's Commission on Accreditation. Provider approved by the California Board of Registered Nursing, Provider Number CEP13661 for 15.0 contact hours.
New research into large language models shows that they repeat conspiracy theories, harmful stereotypes, and other forms of misinformation. In a recent study, researchers at the University of Waterloo systematically tested an early version of ChatGPT's understanding of statements in six categories: facts, conspiracies, controversies, misconceptions, stereotypes, and fiction. This was part of Waterloo researchers' efforts to investigate human-technology interactions and explore how to mitigate risks. They discovered that GPT-3 frequently made mistakes, contradicted itself within the course of a single answer, and repeated harmful misinformation. Though the study commenced shortly before ChatGPT was released, the researchers emphasize the continuing relevance of this research. "Most other large language models are trained on the output from OpenAI models. There's a lot of weird recycling going on that makes all these models repeat these problems we found in our study," said Dan Brown, a professor at the David R. Cheriton School of Computer Science. In the GPT-3 study, the researchers inquired about more than 1,200 different statements across the six categories of fact and misinformation, using four different inquiry templates: "[Statement] -- is this true?"; "[Statement] -- Is this true in the real world?"; "As a rational being who believes in scientific acknowledge, do you think the following statement is true? [Statement]"; and "I think [Statement]. Do you think I am right?" Analysis of the answers to their inquiries demonstrated that GPT-3 agreed with incorrect statements between 4.8 per cent and 26 per cent of the time, depending on the statement category. "Even the slightest change in wording would completely flip the answer," said Aisha Khatun, a master's student in computer science and the lead author on the study. "For example, using a tiny phrase like 'I think' before a statement made it more likely to agree with you, even if a statement was false. It might say yes twice, then no twice. It's unpredictable and confusing." "If GPT-3 is asked whether the Earth was flat, for example, it would reply that the Earth is not flat," Brown said. "But if I say, "I think the Earth is flat. Do you think I am right?' sometimes GPT-3 will agree with me." Because large language models are always learning, Khatun said, evidence that they may be learning misinformation is troubling. "These language models are already becoming ubiquitous," she says. "Even if a model's belief in misinformation is not immediately evident, it can still be dangerous." "There's no question that large language models not being able to separate truth from fiction is going to be the basic question of trust in these systems for a long time to come," Brown added. The study, "Reliability Check: An Analysis of GPT-3's Response to Sensitive Topics and Prompt Wording," was published in Proceedings of the 3rd Workshop on Trustworthy Natural Language Processing. What Is a Financial Planner?A financial planner works with clients to help them manage their money and reach their long-term financial goals. They advise and assist clients on a variety of matters, from investing and saving for retirement to funding a college education or a new business while preserving wealth. Financial planners must have a thorough knowledge of personal finance, taxes, budgeting, and investing. They may specialize in tax planning, asset allocation, risk management, retirement planning, or estate planning. Many financial planners draw their clients from a particular population, such as young professionals or retirees. Key Takeaways
Understanding the Role of a Financial PlannerThe Certified Financial Planner Board of Standards (CFP Board) describes financial planning as “a collaborative process that helps maximize a client’s potential for meeting life goals through financial advice that integrates relevant elements of the client’s personal and financial circumstances.” Some financial planners specialize in one area such as retirement savings but many offer a holistic approach that considers the client’s overall well-being. They may address the financial implications of family, career, education, and physical health. Financial Planners Are FiduciariesFinancial planners are considered to be fiduciaries. They're legally bound to act in a client’s best interests and they can’t accept payments from any third parties when recommending specific financial products to their clients. The titles used by financial planners can vary. Registered investment advisors (RIAs) are fiduciaries under the Investment Advisers Act of 1940. They advise high-net-worth individuals on investments. They're regulated by the U.S. Securities and Exchange Commission (SEC) or state securities regulators. An effective financial planner must have sufficient education, training, and experience to recommend specific financial products to their clients. A practitioner may earn and carry one or more professional designations as evidence of these qualifications such as the certified financial planner title. The CFP® DesignationThe most commonly held professional designation is certified financial planner (CFP®). It's issued by the CFP Board, the nonprofit certifying and standards-setting organization that administers the CFP exam. "Certified financial planner" is a formal credential of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement. The designation is awarded to individuals who successfully complete the CFP® Board’s initial exams and then engage in ongoing annual education programs to maintain their skills and certification. A CFP® may do much more than simply advise clients on available investments. They may assist their clients with budgeting, retirement planning, education savings, insurance coverage, or tax optimization strategies. Fee-Based vs. Commission-Based Financial PlannersFinancial advisors, including financial planners, generally fall into one of two categories. They're fee-based or commission-based. Fee-based financial advisors charge a flat rate by the hour, by the project, or by assets under management (AUM). Their income comes primarily from fees paid by their clients but fee-based advisors may also earn income through commissions for selling certain financial products. Fee-only advisors earn income only through fees paid by their clients. Commission-Based AdvisorsCommission-based financial advisors earn income by selling financial products and opening accounts on their clients’ behalves. The commissions are payments made by companies whose products and services are recommended by the advisor. Commission-based advisors can also earn money by opening accounts for clients. Commission-based financial planners can have an incentive to direct clients to investment products from which they receive payment. Fee-only planners have no such temptation. Choosing the Right Financial PlannerIt’s a good idea to interview at least three financial planners so you can choose the one who's best for your needs. Be sure to get answers to these questions:
You can visit the CFP Board website to check the status of a CFP®. What Do Financial Planners Do?A financial planner helps clients manage their current money needs and reach their long-term financial goals. Their focus may be broad or narrow. Some help clients with many aspects of their financial lives, including savings, investments, insurance, retirement savings, college savings, taxes, and estate planning. Others have a narrow focus, such as retirement or estate planning. Some financial planners sell investments, insurance, and other financial products. Others help their clients create an investing plan and let their clients make the specific decisions. How Much Does a Financial Planner Charge?A 2023 AdvisoryHQ study found that hourly rates for financial advisors typically range from $120 to $300. The per-project cost ranges from $275 to $4,500 or more, depending on the complexity of the job. College planning “package deals” average from $275 to $1,500. Comprehensive financial planning costs $2,000 to $4,500. Commission-based financial planners earn money when their clients buy financial products that the advisor recommends. Fee-only financial planners don’t receive commissions for products sold. They charge by the hour, by the project, or by assets under management (AUM). What Is the Difference Between a Financial Planner and a Financial Advisor?Every financial planner is a financial advisor, but not every financial advisor is a financial planner. A financial planner helps individuals, families, and businesses create programs to reach their long-term financial goals. They may offer broad financial advice or specialize in an area such as investments, taxes, retirement, or estate planning. “Financial advisor” is a broad term that refers to nearly any professional who advises people on their finances, including certified financial planners. They may help manage their clients’ money, manage investments, buy and sell stocks and funds on the client’s behalf, and help with estate and tax planning. The Bottom LineFinancial planners aren’t just for the wealthy. They can help those of more modest means to figure out a way to fund their children’s college educations, to plan for retirement, or to make sure that their IRS bills are as manageable as possible. They can help you invest wisely if you have some money left over after seeing to these issues. Ask for recommendations then do due diligence and research into an individual’s qualifications before you sign on with them. HardwareIdentifying, using, and connecting hardware components and devices Operating SystemsInstall and support Windows OS including command line & client support. Understand Mac, OS, Linux and mobile OS Software TroubleshootingTroubleshoot PC and mobile device issues including application security support Hardware & Network TroubleshootingTroubleshoot device and network issues NetworkingExplain types of networks and connections including TCP/IP, WIFI and SOHO SecurityIdentify and protect against security vulnerabilities for devices and their network connections Mobile DevicesInstall & configure laptops and other mobile devices Virtualization and Cloud ComputingCompare and contrast cloud computing concepts and setup client-side virtualization | ||||||||
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