topic Re: Do you have a financial advisor? in Community Chat

Do you have a financial advisor?

SeaMaiden — Sun, 26 Mar 2017 01:15:05 GMT

Just curious how many of you do. Hubby and I are going to talk to one next week about retirement plans and the best path to take.

Re: Do you have a financial advisor?

MickD — Sun, 26 Mar 2017 01:19:45 GMT

Yes. We've had a couple in earlier stages in our life. We need to meet with one to set up a trust for our teen son in case we "kick it" before he is mature enough to handle the dough. It is really a good idea and a reality check on one's own finances.....and very comforting too....

Re: Do you have a financial advisor?

Annabellethecat66 — Sun, 26 Mar 2017 01:20:30 GMT

Yes! He has to OK everything with me but he and my daughter work together. He works for a huge investment company. He puts money in my account (agreed amount) every month. I don't spend the principal only the the interest.

If I need extra money I call and someone puts it in my checking account. It's simple.

Re: Do you have a financial advisor?

TeachRsPet — Sun, 26 Mar 2017 01:23:44 GMT

I do. It's my husband. That's literally his job!

Re: Do you have a financial advisor?

sunshine45 — Sun, 26 Mar 2017 01:32:55 GMT

yes, we have a financial advisor, a family lawyer, and a cpa.

Re: Do you have a financial advisor?

suzyQ3 — Sun, 26 Mar 2017 02:05:59 GMT

We divorced our financial advisor and now use Schwab. We've been very pleased with their services.

A reminder when looking for a financial advisor: Fee-only.

Re: Do you have a financial advisor?

KarenQVC — Sun, 26 Mar 2017 02:27:37 GMT

An estate lawyer and a guy at UBS. My son for a back up.

Re: Do you have a financial advisor?

Catiele — Sun, 26 Mar 2017 02:41:39 GMT

No we didn't need one. Yes we did. My son is a financial advisor.

Re: Do you have a financial advisor?

Snowpuppy — Sun, 26 Mar 2017 02:42:00 GMT

No.

While I have investment accounts, they aren't that complicated. Besides, you should never invest in something you don't understand.

My lawyer is also a great ear to bend when needed. A savvy guy who has great insight into finance as well as where I stand on risk tolerance, etc.

Re: Do you have a financial advisor?

granny me — Sun, 26 Mar 2017 02:52:53 GMT

@Annabellethecat66 wrote:
Yes! He has to OK everything with me but he and my daughter work together. He works for a huge investment company. He puts money in my account (agreed amount) every month. I don't spend the principal only the the interest.

If I need extra money I call and someone puts it in my checking account. It's simple.

If I need extra money would he some in my checking account?

Re: Do you have a financial advisor?

Shanus — Sun, 26 Mar 2017 03:01:45 GMT

@SeaMaiden. My husband (who's a tax accountant) is also a financial advisor. So, yep. I guess I have one.

Re: Do you have a financial advisor?

Mz iMac — Sun, 26 Mar 2017 03:01:46 GMT

My mother has one but I do not as I am my own financial advisor.

I've always been very very good handling my own $$$=saving, investing & spending.

Re: Do you have a financial advisor?

Kalli — Sun, 26 Mar 2017 03:24:03 GMT

Yes and no. I have one for my retirement package. But that's basically in a low risk situation and it's small.

The rest of our investments are handled by DH.

Re: Do you have a financial advisor?

Stray — Sun, 26 Mar 2017 04:06:13 GMT

My Company provided the service....so early on I did but I'm retired now and have planned for the golden years....it's much easier....I do it..., so no

Re: Do you have a financial advisor?

Kachina624 — Sun, 26 Mar 2017 05:04:47 GMT

Yes, with Edward Jones. They're in neighborhoods, are very friendly and non-intimadating. You don't have to be super rich to use their services.

Re: Do you have a financial advisor?

fourpaws56 — Sun, 26 Mar 2017 05:12:21 GMT

me, I speak for me

Re: Do you have a financial advisor?

mollybgood — Sun, 26 Mar 2017 08:05:18 GMT

Me!

a tax-prep gal

and

my annuity guy

Re: Do you have a financial advisor?

Nataliesgramma — Sun, 26 Mar 2017 09:41:47 GMT

Yes and I wish I could get rid of him...but he is a friend of the family and hubby won't.....

Example: I called him WED 3/15 to have a small amt transfered ro our checking acct because hubby has to have expensive dental work. Friday 3/24 hubby asks me if the money is in our acct. It is not. He tells me to call The guy up....I tell him YOU CALL HIM.

Within 5 minutes he calls and tells hubby that it "should be in any day now", that he didn't submit the paperwork until a few days ago....

I bet he was faxing while he was lying to hubby on the phone.

We waited 2 WEEKS last fall when we used money for a family vacation!!

UNACCEPTABLE to me....but hubby says he is nice and doesn't charge us to handle our accts so he puts up with it.

Re: Do you have a financial advisor?

Mom2Dogs — Sun, 26 Mar 2017 12:09:20 GMT

@SeaMaiden, yes we do and have had one for years. We meet 2x per year..more if we feel the need. Our fee is based on our portfolio.

If we are making a large purchase we can call and get advice on how to pay for it....such as cash, take the money from our investments, etc. They are very helpful.

When it comes to retirement, we get a breakdown about what our costs will be as well as how long our money will last. Figures come from the budget we do every year for them.

Our portfolio has exceeded our expectations, they have done a great job for us.

We really like the people we work with and trust them, they are available when ever we have questions and explain things until we understand, which sometimes takes a while.....ha!

We did not go with a large company, he is a local person and has consistently been on a list of the top investors in the country for years. He runs the money invested thru a large well known company to keep everyone honest (remember Bernie Madoff). We have no worries about him or his company.

He is a Private Wealth Advisor.....

Re: Do you have a financial advisor?

kaydee50 — Sun, 26 Mar 2017 12:30:36 GMT

My DH who has done extremely well investing. We went to a financial adviser years ago and after reviewing our investments, he said my husband is in the top 1% of investors. As the TV ads say, do they get paid if they lose your money???? Most people can do better themselves with little effort.