Answer

I am in the process of selecting a financial planner. I have interviewed one fee-only and one commission based planner but will still interview others. When I asked the fee-only planner for the names of existing clients as references she declined to provide them on the grounds of client confidentiality. Is this a reasonable response for a CFP?

Yes it is. Many planners are hesitant to intrude on their client's private lives by giving out their names to respond to calls from total strangers. As a "Plan B," however, you might request references from other professionals that these financial planners work with (e.g., CPAs, attorneys). This might give you some valuable feedback. You might also ask the planners that you are interviewing to show you samples of their work (e.g., completed plans for other clients, with the client names deleted, of course). This, too, could be helpful. Finally you can check if planners are CFPs (certified financial planners) in good standing on the Web site www.cfp-board.org. The N.J. Bureau of Securities (973/504-3600) can tell you if there has been any disciplinary action taken against a planner.