Financial Advisor
Fee-Only Financial Planning: How to Make It Work for You (J.K. Lasser Pro.)
John E. Sestina (Hardcover) Wiley 2000-12-08
Price:
$85.00
Answers
Generally speaking, is there any sort of "cut-off" point in the value/amount of assets under management below which it makes little or no sense (for the client, that is) to pay a financial advisor an asset-based fee (specifically, 1%)? Put another way, up to what point ($$ value) does it make more sense to have a fee-only arrangement? This would be for a client who knows more or less nothing about investing. Thanks for any advice.
There is not, the groups that don't have fees are based on commission and are trying to sell you something such as insurance or a type of investment fund. When you get to a certain level it is a good idea to get an accountant to help you with your planning. They will not advise what stock or fund to buy but they can help you determine the impact on your taxes to help you minimize them and keep you legal. In cases where you might have a rental property or two, stocks, IRAs, 401K, children, healthcare costs, how do keep track of them and there impact. That is where an accountant comes in and is a huge help.
To develop an investment strategy I also think it is a 50/50 split between the fee and no fee guys. I am with USAA and they have brokerage accounts, mutual funds, insurance, etc... they provide a flat fee assessment which is good, I feel like I know what I need to do and don't want the pressure. I could also see that if I did not have the time to keep an eye on my assets and I had a broker I trusted to work on commission pay for performance type system.
Rick Epple presents the concept of fee-only financial planning. Learn the value of his fiduciary responsibility and how that focus provides ...
It depends on your commission grid.
Fee based advisor's are paid far less than commission based. Typically client is charge up to 2.25% for stocks and .05 to 1% for bonds. based on client assets.
Your payout may be 20-45% of that. The higher end means you are producing gross commissions of 250k to 1mm/ year.
What is the best place to search for hourly fee based financial planners / investment advisors?
I don't work for the company but did years ago. But there are other firms beside this one that have the same services offered. My advice is that you take the time to 'interview' different places and go with the one that you feel most comfortable with. That is the key, if you aren't able to relax and open up to someone, move on to the next one. With that being said...
I would recommend that you find a local Edward Jones Investment office. (They are everywhere around the suburbs of major cities)
They are great when it comes to people that can help you with the management of ones assets.
The best part is that they can help you put away money that will help you in the long run. The best part is they don't have hourly fees. Something the company enforces.
However, they aren't the place that you want to go if you wanted to buy stocks. That isn't their expertise. They may claim to be, but trust me they aren't-
Look on the internet for their site, or google Edward Jones Investments. On there you can even look for an office near you.
a commission only
fee only,
self employed,
or fee based financial adviser
I thinking about getting one and would like to know what you all think
Beware of ever trusting someone else with your money. The best financial adviser, who will best look after your own interests, is yourself.
Searching for recommendations for a fee based financial adviser in the Boston area. Not looking for a high end money manager but somebody to help me do some basic planning for the future.
Sorry no idea abt cheap once ....they all cost a lot of money...
Howevere, you can approach some freelancers on the net they might offer advice at a reasonable fee
50% of Fee-Based Financial Advisers Turning to Tactical Management ...
About 50% of the advisers said they are turning to tactical management, and 68% are feeling pressure to revise their asset management strategy. Sixty-six percent of the advisers said their clients are more confident with a tactical strategy, while only 34% said their clients are more confident with a traditional buy-and-hold strategy.
“In 2008, we saw the S&P 500 drop more than 50%, and there is a very real possibility that we could see more losses before a recovery is truly under way,” said Laurence Greenberg, president of Jefferson National. “While the basic building blocks of goof investing won’t change—establish a goal, create a plan, follow a disciplined approach and don’t overreact—our survey indicated that in today’s volatile market, advisers are moving to the disciplined use of a tactical asset management strategy rather than a traditional buy-and-hold strategy.”
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