Seeking Recommendation - Financial Advisor

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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Topic Author
TO
Posts: 107
Joined: Fri Oct 10, 2008 1:48 pm

Seeking Recommendation - Financial Advisor

Post by TO »

Unfortunately, my brother and I recently lost our last surviving parent. We are the beneficiaries of the estate, and will each receive a sizeable inheritance (mid to high six figures).

While I don't plan to make any significant changes to my lifestyle or investing approach (essentially a strict Boglehead regimen), my brother will be confronted with making serious investing decisions for the first time in his adult life. He has no financial background and no investing experience. While I would like to believe I may be capable of successfully advising him to invest responsibly, it is becoming clear that introducing him to a financial advisor is the appropriate course of action in this case. There are simply too many complexities and too much at stake for me to attempt to advise him without some outside assistance (ignoring the emotional challenges associated with giving/receiving advice to/from a close sibling).

My parents used a financial advisor from one of the major brokerage firms. Although he and I do not share the same investing philosophy, he will be playing a role in the administration of the estate. Consequently, my brother is likely to have a fair amount of contact with him over the next several weeks, and he will likely be given an opportunity to pitch for my brother's business. I would like to provide my brother with some alternatives that are more philosophically aligned with the investing approach discussed on these boards. As a result, I'm seeking recommendations for highly referenceable fee-only financial advisors in the Southeast Florida area. While I would prefer for him to have a local resource, I will consider introducing him to advisors from other geographic areas if necessary.

Thanks in advance for any help you can provide.

TO
ddunca1944
Posts: 941
Joined: Fri Apr 01, 2011 1:49 pm

Re: Seeking Recommendation - Financial Advisor

Post by ddunca1944 »

I'd look at the Garrett Network (www.garretplanning.com) and the National Association of Personal Financial Advisors (www.napfa.org) to start.
rustymutt
Posts: 4001
Joined: Sat Mar 07, 2009 11:03 am

Re: Seeking Recommendation - Financial Advisor

Post by rustymutt »

First of all let me say that I'm sorry for your loss. Losing ones parents isn't easy.
I also understand that dealing with a sibling on this matter can be stressful, if not darn difficult. I wouldn't want the responsibility of that. That's all I am going to say. May God's grace grant you the wisdom to deal with your situation.
You've made a great first step in asking here on this board. Many wonderfully helpful people reside here.
Even educators need education. And some can be hard headed to the point of needing time out.
mhalley
Posts: 10432
Joined: Tue Nov 20, 2007 5:02 am

Re: Seeking Recommendation - Financial Advisor

Post by mhalley »

Looks like you left off a T in your link.
http://garrettplanning.com/
Mike
p_qrs_t
Posts: 110
Joined: Wed Jul 28, 2010 2:02 pm

Re: Seeking Recommendation - Financial Advisor

Post by p_qrs_t »

TO wrote:Unfortunately, my brother and I recently lost our last surviving parent. We are the beneficiaries of the estate, and will each receive a sizeable inheritance (mid to high six figures).

While I don't plan to make any significant changes to my lifestyle or investing approach (essentially a strict Boglehead regimen), my brother will be confronted with making serious investing decisions for the first time in his adult life. He has no financial background and no investing experience. While I would like to believe I may be capable of successfully advising him to invest responsibly, it is becoming clear that introducing him to a financial advisor is the appropriate course of action in this case. There are simply too many complexities and too much at stake for me to attempt to advise him without some outside assistance (ignoring the emotional challenges associated with giving/receiving advice to/from a close sibling).

My parents used a financial advisor from one of the major brokerage firms. Although he and I do not share the same investing philosophy, he will be playing a role in the administration of the estate. Consequently, my brother is likely to have a fair amount of contact with him over the next several weeks, and he will likely be given an opportunity to pitch for my brother's business. I would like to provide my brother with some alternatives that are more philosophically aligned with the investing approach discussed on these boards. As a result, I'm seeking recommendations for highly referenceable fee-only financial advisors in the Southeast Florida area. While I would prefer for him to have a local resource, I will consider introducing him to advisors from other geographic areas if necessary.

Thanks in advance for any help you can provide.

TO

TO,

I am very sorry for your loss. I imagine this is a very difficult time for you.

If your brother is willing to listen, may I suggest Steven Evanson of Evanson Asset Management. He will charge $2000/year, he is quite reasonable, and spends the time necessary to come up with a cogent plan. This website, along with www.evansonasset.com, may be a very good place for your brother to start.

Good luck,

p_qrs_t
Topic Author
TO
Posts: 107
Joined: Fri Oct 10, 2008 1:48 pm

Re: Seeking Recommendation - Financial Advisor

Post by TO »

Thanks to all for the valuable suggestions.

Best,
TO
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