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Best Way to find a Fee Based Financial Planner?

WinniWoman

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Dang, never even thought of Vanguard... I use them for my yearly IRA

Keep in mind the advisors with mutual fund companies are slanted towards you investing and keeping money with them.

In addition to our fee only planner, I cautiously have used the T Rowe Price Advisory services, but it is definitely slanted. And certainly not holistic.
 

WinniWoman

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We went by a personal referral. A friend at work was using a small company and she and her husband were very pleased with them. Dh and I went in and talked to them at length and decided to use them as well. We started with them before we retired and they helped up figure out when we could retire, if we could handle mortgages on two properties while we were moving from one state to another. Our investments have done well with them and now both of our dds have accounts with them as well.

By fee based do you mean the financial planner just takes a flat fee? Our works on a percentage so we feel they are working for us because the more we make, the more they make.

See this is exactly what our guy did/ does. And the same situation as you for advice about move out of state, buying our forever home and carrying 2 houses if our current one doesn’t sell right away. Pre- retirement planning and all that. But for a hell of a lot less money.

Keep in mind- yeah- your planners make money when you do, but your total return is substantially decreased once they take their fee each year.

It sounds like your arrangement works for you and that’s great, but you are paying a lot for it. But if you are happy with it and don’t mind paying, nothing wrong with it.
 
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Luanne

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See this is exactly what our guy did/ does. And the same situation as you for advice about move out of state, buying our forever home and carrying 2 houses if our current one doesn’t sell right away. Pre- retirement planning and all that. But for a hell of a lot less money.

Keep in mind- yeah- your planners make money when you do, but your total return is substantially decreased once they take their fee each year.

It sounds like your arrangement works for you and that’s great, but you are paying a lot for it. But if you are happy with it and don’t mind paying, nothing wrong with it.
We're happy with it. Period, the end.
 

Brett

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HUH? I am saying- exactly- bingo- what are you paying a yearly fee for once a plan is totally set up- that's the question. Why pay an advisor a percentage of your assets every year when it is their computer that adjusts your asset allocation going forward? No way do most of them personalize anything after that.

But when you just pay for specific advice as needed- and the advisor does not hold your assets- you get the most objective advice for the least cost.

No way do I want to pay someone like $10,000 per year!


your original post was just one word - EXACTLY
I see you've gone back and added an explanation
 
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Brett

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We're happy with it. Period, the end.


OK
but if you are paying a financial advisor a % of your investment portfolio just make sure they are not also getting commissions from advice on buying certain investments.
 

RX8

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What is a typical fee charged of your portfolio? Through my employer we have access to wealth management services (Financial Engines). Their fee is .80.
 

MULTIZ321

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Hi Sugarcubesea,

If you haven't found a Financial Advisor yet check out Barron's list of more than 1,200 ranked advisors at: www.barrons.com/directory


Good luck

Richard
 
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