Fee Financial Advisor

we are interviewing financial advisors to help us invest about 250k in mostly cash some stocks/mutual funds. what is a reasonable fee to expect to be charged on an account of this small size by a fee-only financial advisor? is it worth it?

Let me give you some advice, that i believe will prove useful. First off, insist that the financial advisor give you several different options for your money.

They love to put their clients into mutual funds because that is where they make their highest commissions. The truth is, about 75% of all mutual funds under perform the market. All of them have management fees and some have sales loads. They just aren't that good of an investment vehicle anymore. In my opinion.

I would look at DRIP Plans (which I personally love) instead of mutual funds. Or look at ETF's, which are basically the same thing as mutual funds, except with lower overall average fees.

Just insist that they give you many options, and pay attention to how strong he pushes you toward mutual funds.

Best of Luck

2008-03-31 15:15:30 by lisashopping2003

Kristin Harad of VitaVie Financial Planning www.newparentfinances.com discusses the benefits of working with a Certified Financial Planner ...

I am starting my financial planning and dont wanna pay too much... .since I am still very new.. does anybody know what you would pay for initial planning stages?

1% annual on equity, 0.5% on fixed income

2009-04-22 09:37:46 by inquisitve

Price: $5.95 $5.95

It is dependent on various factors including your investments and also your relationship with the advisor !I. It varies from 0.3 % to 2%

2008-04-15 17:57:17 by Gman

Price: $85.00

Unless you are quite wealthy and in need of extensive estate planning you should never have to pay $5,000 for a plan. That is just ridiculous. For a comprehensive plan with only basic estate planning you will be in the $1,000 -$2,500 range. I don't mean to pick on the Senor, but never take advice from someone who:
A) Tells you what to do without asking about your financial situation, goals, concerns and outlook EXTENSIVELY FIRST.
B) Tells you only to consider buying term life insurance.
C) Uses a multiple of salary approach to determining your need for coverage.

Seek out a financial planner in your area. try the Planner Search feature on the Financial Planning Association's website: www.fpanet.org

When interviewing planners ask alot of questions. How do you get paid? What is your investment philosophy? If I came to you 5 years ago would your advice to me then be different than what it is now? Do you have any clients that would be willing to talk to me about your services?

A planner that has trouble answering these questions should be given more scrutiny. Good Luck.

2006-03-04 11:13:19 by nctxil

I want to become a fee only financial advisor and not sell any stocks or insurance. Does the state require series 63 or 65 or 66 license. Any other licenses that I need to have?

In Texas to become a CFA you must have a U.S. Bachelor's or equivalent degree be in the final year of your degree program or have 4 years qualified professional work experience. You must also meet the requirements of the professional conduct admission criteria, and be approved by the board.
There are also exams you must pass
there is a web site that outlines in more detail the information you are looking for
http://www.cfainstitute.org/cfaprog/faq. html

2007-03-30 03:55:00 by Ryan C