Get financial planning help with insurance

HMO, PPO, POS — with the myriad options available, it's tough to zero in on the best health insurance plan for your business. Some financial planners are licensed to sell insurance and may work on commission; others are paid by you and can help you choose the best plans for your business.

I recommend: ING offers a slate of financial planning services for businesses, including the selection of employee benefits.

Sift through retirement plan options

Whether you want to create a retirement plan for yourself as a sole proprietor, or you want a plan that will cover you and your employees, a financial planner can help.

I recommend: Financial advisors at Merrill Lynch and Schwab offer a number of options geared specifically to small business owners and their employees. If you prefer an independent planner, search for one in your area at LPL.com, which has more than 6,500 advisors in more than 4,000 branches nationwide.

Investment plans for you and your business

Ideally, as a business owner, you'll have profits to invest. For unbiased advice, you may wish to use a "fee-only" financial planner who isn't licensed to sell investment products.

I recommend: Major investment firms, such as Fidelity, have advisors who can help you find the best ways to invest your company's cash. Find financial planners who aren't licensed to sell investment products at the PaladinRegistry.com.

Tax planning

Financial planners can help you identify additional tax deductions and can alert you to specific reporting requirements for your business.

I recommend: WiseAdvisor.com offers several matching services to help you find a financial planner who deals with business finances and taxes.

Commercial real estate

When you're contemplating buying or selling commercial real estate, get advice from your financial planner.

I recommend: Prudential Financial offers a number of services geared to business owners, including relocation services, commercial mortgages and commercial real estate. Search for a Prudential financial planner near you on the firm's Web site.

Check credentials

Anyone can call himself or herself a financial planner. Ensure that your financial planner has the proper education, experience and commitment to ethics by choosing a Certified Financial Planner, a Personal Financial Specialist or a Chartered Financial Consultant.

I recommend: Download a checklist from the National Association of Personal Financial Advisors to help you evaluate financial planners and their credentials.

Consider compensation

Planners may receive a fee, commissions based on selling investments or insurance, or a combination of the two. Fee-only planners may charge a percentage of the assets under management, an hourly fee or a flat fee. Many believe that fee-only advisors provide the most unbiased advice since their income isn't derived from selling financial products.

I recommend: Search for fee-only planners at NAPFA.org.