Our friend uses Schwab and they have money managed by them for free. Obviously money management is different from someone who can look at the whole picture which is what you are looking for. Regardless, you should give them a call to find out.
T Rowe Price does the same for us and I use it.
Schwab you have to have your money with them, of course. I see no reason to pull my money out of T Rowe Price. That is what turns me off with some of the advisors I have met with. Why can't they just look at what I have and give me objective advice as to how it is or what changes I could make within T Rowe Price?
Why? Because they make their money moving it (imagine what that does to your returns when they sell it all off!) and then charging you a percentage of your assets to "manage" it- which the computer does anyway in re balancing. You think these guys actually manage the funds of every single one of their 200-400 clients? No way. Everything is computerized.
I have nothing against them earning a living. I am just saying I would rather not pay for that. Heck- one could put their money in a no load target date retirement mutual fund themselves and call it a day. Really.
All these companies have these advisement services now. Vanguard, Fidelity, etc. Makes sense to help people and therefore try to keep the money in house, otherwise people might sway elsewhere, especially if they hire a financial advisor and he/she takes over the management and ends up liquidating everything and moving it to another brokerage house.
This is why I have searched tirelessly for an objective, fee only, hourly based if needed/wanted, CFP that is a fiduciary. I think I found my guy. Will know this week.
Meanwhile, I still am consulting with the T Rowe Price guy- but these guys are not totally objective. They focus on the investments you have with them and where they can get more of your money. That is ok- as long as you are aware of it and don't give in to letting them make all the trades for you. I take everything he says in and then I sleep on it and then decide what I want to do and not do.
I do nto even let them take the RMD's from my inherited IRA account. I DECIDE each year where to take it from. But that is just me.
I need a face to face person that can help us with the other aspects of our lives obviously in relation to the money we have. A little bit of hand holding to get us going. Someone to devise an income plan for us. How to draw down our assets and when to take SS and all the tax implications that go along with it. Medicare and health insurance help. Toss around ideas to how to help us with our relocation- financially. Estate planning advice and referral to an appropriate atty. And yes- he can make recommendations on products and also regarding our portfolio. That kind of stuff- each tied into the other. The big picture.
Investment company advisors do not do all that.
But I in no way want to pay someone a percentage of our assets each year to "manage" them. At least not right now when I can do it myself. I would rather give that money to our son if I am going to lay that kind of dough out.