Financial Advisor Ball

We are developing a website that will sell a low-cost ($29.95) fully-customized report to consumers who are in debt. The report, utilizing a system known as "snow-balling" will detail the payments the consumer would need to make to payoff their debt quicker than they normally would, attacking the higher interest rate debt first. We are not offering securities of any kind, simply offering personal financial advice in return for payment. Should we be looking to register with the state? Thanks in advance for any help!

I doubt you need a license. Sounds like an awful lot like plans which are described by Dave Ramsey and Crown Financial. I can get this plan for free on various websites, why would I pay?

2006-12-21 18:44:01 by Patrick from Boston

www.kimsnider.com To win what I call, the great game of investing, investors must learn a fundamental truth; you don't win by doing what ...

Looking for a good corp. culture maybe Prudential or Met, etc. Not really a balls to the wall kinda atmosphere. Who gives the best leads? Who's easiest to leave later on w/ your clients? What's a decent (average) time until 150k+ salary? This is for a beginner in the industry but not the subject matter. I'm also trying to compare the time it takes to make 150k to a couple of other jobs. Thanks.

As a beginner financial advisor, you won't make anywhere near 150K. First you need to find some company that will hire you. And then you will need to find clients that will trust your judgment with their money. Not easy.

2008-08-22 16:25:41 by pangaea6

I currently have $50K earning 5% in a money market. I am 32 years old and an officer in the Marine Corps. I also have about 5K in retirement plan of a prior employer. I would like to roll that money into my own retirement plan but am not sure how to do it. My main concern at the moment is that I know I can get a much better return on my savings but I'm not sure how to do it. Because of my job I don't have access to a financial advisor during normal working hours. I am looking for low to moderate risk investment options with details on how to get the ball rolling. Any advice is greatly appreciated.

Check out Primerica Financial Services (a Citi company) that doesn't charge any fees for their service and they will help you at anytime (day or night or weekends). They can help you evaluate your market risk and find suitable investments that meets your investment objective. (Just make sure the agent is securities licensed). What's most likely going to happen is that they can help you rollover your $5k retirement plan into a Traditional IRA.

OR you can do all the research and work on your own. There are so many mutual funds out there and only some will meet your investment objective. You would need to read many prospectus and look at its past performance, who manages the mutual fund, its annual expenses, and top holdings in the mutual fund.

2007-03-30 17:37:31 by Bridger2

My daughter's fund has lost about 25% in the last year.......down to just over $77,000. from over $100,000. We were advised to continue our $600.00 monthly contribution despite this and are losing every single penny of it and then some. I am beginning to get very scared.

What should we do? Our daughter graduates from HS in just over 2 years. She plans to attend Boston College or Clarkson University where the tuition's are very steep. I feel like I am watching her dreams go down the toilet as money continues to be depleted from her account.

What should we do? Leave this money in there so we are not penalized or pull it out with penalty. Should we continue contributing? We have been contributing to this fund since she was a young child, increasing this contribution in the past 2 years.

What should we do? I know you don't have a crystal ball but if this were your child's account what would you do at this time.

Thank you so much.
I should note that this fund began with a $25,000 cash investment.
Luigi......I don't trust this man! I have had this feeling for a long time now. I know the fund is diversified somewhat, but he has never suggested what you just did. Thanks.

You should continue to contribute, but to what? What is the 529 invested in? With only 2 years til college, most of the money should have been gradually moved into bonds (especially short term bonds) or CD's over the past 2 years. I would think a competent financial adviser would have suggested this. I would continue adding $600 per month, but put it in a CD account. And maybe look for a financial adviser who is more concerned about you and less about his commissions.

2009-02-21 05:20:53 by grandma zaza

There is no form to fill out. Just write HoldHarmlessAIGLOSS/GAIN AND SIGN name. Orally I'm told I must do this to have money returned from a IRA because I'm passed the age limit. My financial advisor did not on the ball. Didn't bother to look it up. Sent me a letter where I would say I made the error. I refused. Wrote my own letter and now I must sign without a written explaination from AIG. I sent a complaint to Securties Commission of North Dakota. He says sign it. BIG BUSINESS has state and federal gov't on their side. Every day we are giving up more rights and apparently there is nothing we can do about it.

Don't sign. They want you to sign to get out of their liability. If I were you, and there is a significant amount of money, I'd see what a lawyer had to say.

2007-05-04 13:48:34 by lero