Recommend an Independent Financial Advisor, please? [fee-only]

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psunique
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Recommend an Independent Financial Advisor, please? [fee-only]

Post by psunique » Thu Jun 23, 2016 5:11 pm

Hello, I mainly have Vanguard funds, but also non-Vanguard funds in addition to real estate and commodity funds. I've been basically on my own with Vanguard for ten years, with the Vanguard CFPs not straying from their Vanguard rule book. I recently transitioned into retirement and I would like to consult with a fee only CFP regarding my holdings and any suggested changes. I would greatly appreciate any recommendations and referrals (with no strings attached).

Lafder
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by Lafder » Thu Jun 23, 2016 7:46 pm

I do not have any specific names to rec. But if you take the time to post your holdings like this, you can get a bunch of perspectives some from financial advisors, but many are just folks who read a lot and manage their own money, from diverse backgrounds.

It will get you more prepared to meet with a fee only advisor and compare what they say to the group wisdom you get here :)

viewtopic.php?f=1&t=6212

Welcome here!
lafder

123
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by 123 » Thu Jun 23, 2016 8:12 pm

With your years with Vanguard you may have more insight into how your investments "fit" you then what you will hear from an Financial Advisor. If you contact an FA I have not doubt that they will have suggestions that are outside of Vanguard. How could they make any money recommending products available from Vanguard? To give you "value" for your money I'm sure even a fee-only FA (if there really are such things) would recommend alternatives to Vanguard, even if it's only DFA so you could get hooked into at least some kind of a AUM fee somewhere to access those.

Your best option might be to post here. Any holes in the feedback you may receive will be promptly responded to.
The closest helping hand is at the end of your own arm.

Katietsu
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by Katietsu » Thu Jun 23, 2016 8:23 pm

I think you should broaden your scope of the advice you are seeking from a financial advisor. I would be looking for a FA that can look at your whole picture. It is likely that the most useful advice would have little to do with your specific investment choices. I have a relative who is now more than a decade into retirement. They have an advisor who has kept them in reasonable investment choices. But, I believe that over $250,000 will eventually be lost because they did not get good advice on Roth conversions, the order of spending, etc. at the beginning of the retirement.

Morik
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by Morik » Thu Jun 23, 2016 8:40 pm

123 wrote:With your years with Vanguard you may have more insight into how your investments "fit" you then what you will hear from an Financial Advisor. If you contact an FA I have not doubt that they will have suggestions that are outside of Vanguard. How could they make any money recommending products available from Vanguard? To give you "value" for your money I'm sure even a fee-only FA (if there really are such things) would recommend alternatives to Vanguard, even if it's only DFA so you could get hooked into at least some kind of a AUM fee somewhere to access those.

Your best option might be to post here. Any holes in the feedback you may receive will be promptly responded to.


FWIW, I had an advisor at one point who mainly put me in low-cost vanguard ETFs (and a couple non-vanguard, relatively low cost ETFs). All passive/index. He did tack on a 1% fee on top, but also provided integrated financial planning (I think there was a flat additional fee, but could be mis-remembering).

So there are some out there.

Kybarney
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by Kybarney » Thu Jun 23, 2016 10:23 pm

I sent you a private message with my fee only advisors website.

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LAlearning
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by LAlearning » Thu Jun 23, 2016 11:41 pm

None. This boards collective wisdom is much better.
I know nothing!

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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by Mel Lindauer » Fri Jun 24, 2016 12:42 am

psunique wrote:Hello, I mainly have Vanguard funds, but also non-Vanguard funds in addition to real estate and commodity funds. I've been basically on my own with Vanguard for ten years, with the Vanguard CFPs not straying from their Vanguard rule book. I recently transitioned into retirement and I would like to consult with a fee only CFP regarding my holdings and any suggested changes. I would greatly appreciate any recommendations and referrals (with no strings attached).


You might consider contacting Boglehead fee-only advisor, Allan Roth. He's definitely one of the good guys.

http://daretobedull.com/overviewbio/
Best Regards - Mel | | Semper Fi

psunique
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Re: Recommend an Independent Financial Advisor, please? [fee-only]

Post by psunique » Thu Jun 30, 2016 3:56 pm

Thank you, all. For some reason, I thought I'd get an e-mail notification if there were any posts, so I only revisited the site today. I will contact the two FA's, but I like the idea of posting my portfolio, just to see what Boglehead wisdom there'd be. I am just transitioning into retirement this year, receiving payments on a note receivable that supplements my Soc. Sec. for 3 1/2 more years. I tried to format this from my Excel file.
    [list=]Stocks, R.E., Comm. 59%
    Bonds 41%
    Stocks—36+15= 51%
    All "V" funds and etf's are Vanguard.
    U.S. Total U.S. Stock Mkt-VTSAX 18%
    Large Cap Value-VVIAX 3%
    Large Cap Growth-VIGAX 3%
    Div. Growth-VDIGX 4
    Small-Cap Value-VSIAX 3
    Internet-FDN 1
    Fundamental-PRF 1
    Mid-Cap Value-VMVAX 2
    U.S. Micro-IWC 1
    European-VEUSX 5
    Pacific-VPADX 3
    Canada-EWC 2
    Emerging Mkts-VWO 4
    For. Small Cap -VSS 1
    Bonds 41
    Total Bond Index-VBTLX 18
    Interm. –VBILX 2
    Interm. Inv. Grade Corp.-VFIDX 9
    Int’l.Index -VTABX 4
    Emerging Mkts -VWOB 5
    Metropolitan West Mngd.-MWTRX 3
    R.E. 5
    U.S. Index -VGSLX, VGSIX 3
    For. Index-VNQI 2
    Commodities 3
    Rogers Agric. ETN RJA 1
    Power Shares base metals DBB 1
    Power Shares precious metals DBP 1
[/list]
    Last edited by psunique on Tue Jul 05, 2016 12:29 pm, edited 1 time in total.

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    Re: Recommend an Independent Financial Advisor, please? [fee-only]

    Post by sschullo » Thu Jun 30, 2016 4:02 pm

    Almost every Vanguard client has access to a FA. For the first time I used him to help me rebalance my portfolio last April. Hiring an outside fee only FA is fine, but they can be expensive. Call your Vanguard Flagship Representative first and ask him or her for a referral.
    Last edited by sschullo on Thu Jun 30, 2016 4:09 pm, edited 1 time in total.
    Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

    psunique
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    Re: Recommend an Independent Financial Advisor, please? [fee-only]

    Post by psunique » Thu Jun 30, 2016 4:09 pm

    Lafder wrote:I do not have any specific names to rec. But if you take the time to post your holdings like this, you can get a bunch of perspectives some from financial advisors, but many are just folks who read a lot and manage their own money, from diverse backgrounds.

    It will get you more prepared to meet with a fee only advisor and compare what they say to the group wisdom you get here :)

    viewtopic.php?f=1&t=6212

    Welcome here!
    lafder


    Thank you! Have done this.

    looking
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    Re: Recommend an Independent Financial Advisor, please? [fee-only]

    Post by looking » Fri Jul 01, 2016 8:55 pm

    [quote="psunique"]Thank you, all. For some reason, I thought I'd get an e-mail notification if there were any posts, so I only revisited the site today. I will contact the two FA's, but I like the idea of posting my portfolio, just to see what Boglehead wisdom there'd be. I am just transitioning into retirement this year, receiving payments on a note receivable that supplements my Soc. Sec. for 3 1/2 more years. I tried to format this from my Excel file.
      [list=]Stocks, R.E., Comm. 59
      Bonds 41
      Stocks—36+15= 51
      U.S. Total-VTSAX 18
      Value-VVIAX 3
      Growth-VIGAX 3
      Div Growth-VDIGX 4
      Small-Cap Value-VSIAX 3
      Internet-FDN 1
      Fundamental-PRF 1
      Mid-Cap-VMVAX 2
      Micro-IWC 1
      European-VEUSX 5
      Pacific-VPADX 3
      Canada-EWC 2
      Emerging Mkts-VWO 4
      For. Small Cap -VSS 1
      Bonds 41
      Index-VBTLX 18
      Int. –VBILX 2
      Corp.-VFIDX 9
      Int’l.-VTABX 4
      EM-VWOB 5
      Mngd.-MWTRX 3
      R.E. 5
      U.S.-VGSLX, VGSIX 3
      For.-VNQI 2
      Commodities 3
      RJA 1
      DBB 1
      DBP 1
    [/list]
      [/

      i don't remember those symbolises,abbreviation -can you do full name of the stocks or funds or etfs

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      SeeMoe
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by SeeMoe » Fri Jul 01, 2016 9:32 pm

      Investors who consult a fee only money manager for a plan usually don't follow the plan anyway for various reasons. Bias is a big one, and change can be stressful when you are advised to dump a favorite product that you have become so fond( in love) of. Look how few here follow Vanguards Reccomendations regards 40% international stock and ( shutter the thought) 30% international bonds. Rarely does the client follow all of the reccomended plan, and those that do gradually revert to their old biases and " gut" feelings. Vanguard used to offer a service such as that for a fee and a plan, but evidently gave up the ghost for the preceding reasons. Now they offer VPAS, but I suspect the advisors are butting heads with the same investors who want to also " put their hands on the steering wheel." for most the 3 funds method works and then one can Justforgetaboutit!
      SeeMoe.. :annoyed
      "By gnawing through a dike, even a Rat can destroy a nation ." {Edmund Burke}

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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by pkcrafter » Sat Jul 02, 2016 10:51 am

      If you are looking at retirement, I would recommend you contact a Financial Planner. A planner will asses everything and provide a comprehensive overview of your situation. If you don't feel you need a plan, then try here and see what comes up. You can always see an advisor as well. You can check at Garrett Planing Network.

      http://www.garrettplanningnetwork.com/a ... an-advisor


      Paul
      When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

      Lafder
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by Lafder » Sat Jul 02, 2016 11:25 am

      Re this "Thank you! Have done this." regarding my suggestion to post your holdings like this:

      viewtopic.php?f=1&t=6212

      I meant to post your holdings like that here to see what kind of feedback you get from folks here before you meet with a financial advisor. And then to report back what they say so you can compare what the wisdom of the boards here suggest vs your paid advisor :)

      lafder

      gerntz
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by gerntz » Sat Jul 02, 2016 11:38 am

      psunique wrote:Hello, I mainly have Vanguard funds, but also non-Vanguard funds in addition to real estate and commodity funds. I've been basically on my own with Vanguard for ten years, with the Vanguard CFPs not straying from their Vanguard rule book. I recently transitioned into retirement and I would like to consult with a fee only CFP regarding my holdings and any suggested changes. I would greatly appreciate any recommendations and referrals (with no strings attached).
      It's not clear to me whether you want a one-time review or whether you want an on-going advisor. Also, fee-only can be a flat fee or a percent of assets fee.

      gerntz
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by gerntz » Sat Jul 02, 2016 11:41 am

      LAlearning wrote:None. This boards collective wisdom is much better.
      Could you show me the collective wisdom summary page? Does everyone here agree with that page? Thanks.

      Lafder
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by Lafder » Sat Jul 02, 2016 1:46 pm

      When I refer to the collective wisdom of the boards, it is not a wiki or list.

      It is when someone posts and there is discussion, including people disagreeing with each other.

      That way each poster can take the info they come with, read through and post more and think some more and come away with the collective wisdom that comes from discussing in an open forum where many perspectives can be talked through, read about and researched more.

      There is no single answer, most of the time. But there are some points that are more clearly in agreement.

      :)
      lafder

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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by Billionaire » Sat Jul 02, 2016 2:02 pm

      I've been a Schwab client since 1990. I am assigned to an advisor at my local branch, but I am enrolled in their SIP program, so there no real recommendations they can make. What he recently did for me was to provide a report based on my current age, spending habits and financial worth. The resulting report gave me a picture of what my retirement life (30 years in the future) would look like from a financial perspective. I asked him if the report can be generated for somebody who is not a Schwab client and he said yes. In this day and age, I would imagine most financial service companies can provide a similar report. I think any good fee-based advisor would do something similar before changing any of your investments. If you are questioning you asset allocation, that should also be part of the discussion.

      Jackson12
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by Jackson12 » Sat Jul 02, 2016 8:04 pm

      sschullo wrote:Almost every Vanguard client has access to a FA. For the first time I used him to help me rebalance my portfolio last April. Hiring an outside fee only FA is fine, but they can be expensive. Call your Vanguard Flagship Representative first and ask him or her for a referral.



      While Vanguard is wonderful, I would still suggest first using a fee only advisor who aligns with Boglehead philosophies and prefers Vanguard. This could provide a better perspective.

      Ours was paid an hourly fee to and provide a a one-time extensive analysis of our entire financial picture - Social Security, employer retirement plan options, other investments, our tax bracket,,how to plan effectively with taxes in mind, etc we were then given a monthly budget which should help us stay financially secure for our entire lives.

      Point being: it was a holistic plan and even though we were then put in contact with a Vanguard advisor for allocating a portion of our assets, we also received suggestions on funding accounts (primarily cash) outside of Vanguard .I don"t think a Vangiard advisor would have done quite the same in-depth job...could be wrong

      Vanguard was never an option for an employer offered retirement plan and the employer match and low fees made it worthwhile to keep some funds there. Advisor suggestions were extremely helpful.

      We were also advised on how much to keep in readily available funds - and where to place them

      bayview
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by bayview » Sat Jul 02, 2016 8:16 pm

      http://www.garrettplanningnetwork.com/

      I'm sure that there are a few duds in the bunch, but it is perhaps a place to start. We are very happy with ours.
      The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

      Jackson12
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      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by Jackson12 » Sat Jul 02, 2016 8:24 pm

      sschullo wrote:Almost every Vanguard client has access to a FA. For the first time I used him to help me rebalance my portfolio last April. Hiring an outside fee only FA is fine, but they can be expensive. Call your Vanguard Flagship Representative first and ask him or her for a referral.



      While Vanguard is wonderful, I would still suggest first using a fee only advisor who aligns with Boglehead philosophies and prefers Vanguard. This could provide a better perspective.

      Ours was paid an hourly fee to and provide a a one-time extensive analysis of our entire financial picture - Social Security, employer retirement plan options, other investments, our budget and expensesm our tax bracket,,how to plan effectively with taxes in mind, etc we were then given a monthly budget which should help us stay financially secure for our entire lives.We had to eliminate some expenses, reduce others, etc. We now have a realistic and viable budget.

      Point being: it was a holistic plan and even though we were then put in contact with a Vanguard advisor for allocating a portion of our assets, we also received suggestions on funding accounts (primarily cash) outside of Vanguard .I don"t think a Vangiard advisor would have done quite the same in-depth job...could be wrong

      Vanguard was never an option for an employer offered retirement plan and the employer match and low fees made it worthwhile to keep some funds there. Advisor suggestions were extremely helpful.

      We were also advised on how much to keep in readily available funds - and where to place them

      gerntz
      Posts: 447
      Joined: Fri May 06, 2011 3:37 pm

      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by gerntz » Sun Jul 03, 2016 4:15 pm

      Jackson12 wrote:
      sschullo wrote:Almost every Vanguard client has access to a FA. For the first time I used him to help me rebalance my portfolio last April. Hiring an outside fee only FA is fine, but they can be expensive. Call your Vanguard Flagship Representative first and ask him or her for a referral.



      While Vanguard is wonderful, I would still suggest first using a fee only advisor who aligns with Boglehead philosophies and prefers Vanguard. This could provide a better perspective.

      Ours was paid an hourly fee to and provide a a one-time extensive analysis of our entire financial picture - Social Security, employer retirement plan options, other investments, our tax bracket,,how to plan effectively with taxes in mind, etc we were then given a monthly budget which should help us stay financially secure for our entire lives.

      Point being: it was a holistic plan and even though we were then put in contact with a Vanguard advisor for allocating a portion of our assets, we also received suggestions on funding accounts (primarily cash) outside of Vanguard .I don"t think a Vangiard advisor would have done quite the same in-depth job...could be wrong

      Vanguard was never an option for an employer offered retirement plan and the employer match and low fees made it worthwhile to keep some funds there. Advisor suggestions were extremely helpful.

      We were also advised on how much to keep in readily available funds - and where to place them
      Sounds like a heck of a good deal & advice. Thanks.

      psunique
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      Location: http://www.goddart.com

      Re: Recommend an Independent Financial Advisor, please? [fee-only]

      Post by psunique » Tue Jul 05, 2016 12:31 pm

      looking wrote:
      psunique wrote:Thank you, all. For some reason, I thought I'd get an e-mail notification if there were any posts, so I only revisited the site today. I will contact the two FA's, but I like the idea of posting my portfolio, just to see what Boglehead wisdom there'd be. I am just transitioning into retirement this year, receiving payments on a note receivable that supplements my Soc. Sec. for 3 1/2 more years. I tried to format this from my Excel file.
        [list=]Stocks, R.E., Comm. 59
        Bonds 41
        Stocks—36+15= 51
        U.S. Total-VTSAX 18
        Value-VVIAX 3
        Growth-VIGAX 3
        Div Growth-VDIGX 4
        Small-Cap Value-VSIAX 3
        Internet-FDN 1
        Fundamental-PRF 1
        Mid-Cap-VMVAX 2
        Micro-IWC 1
        European-VEUSX 5
        Pacific-VPADX 3
        Canada-EWC 2
        Emerging Mkts-VWO 4
        For. Small Cap -VSS 1
        Bonds 41
        Index-VBTLX 18
        Int. –VBILX 2
        Corp.-VFIDX 9
        Int’l.-VTABX 4
        EM-VWOB 5
        Mngd.-MWTRX 3
        R.E. 5
        U.S.-VGSLX, VGSIX 3
        For.-VNQI 2
        Commodities 3
        RJA 1
        DBB 1
        DBP 1
      [/list]
        [/

        i don't remember those symbolises,abbreviation -can you do full name of the stocks or funds or etfs


        looking, I have written out most of the funds ABOVE in my initial post. All are Vanguard indexes, except for EWC, PRF, FDN, etc.

        psunique
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        Joined: Wed Jun 22, 2016 7:53 pm
        Location: http://www.goddart.com

        Re: Recommend an Independent Financial Advisor, please? [fee-only]

        Post by psunique » Tue Jul 05, 2016 12:35 pm

        Lafder wrote:When I refer to the collective wisdom of the boards, it is not a wiki or list.

        It is when someone posts and there is discussion, including people disagreeing with each other.

        That way each poster can take the info they come with, read through and post more and think some more and come away with the collective wisdom that comes from discussing in an open forum where many perspectives can be talked through, read about and researched more.

        There is no single answer, most of the time. But there are some points that are more clearly in agreement.

        :)
        lafder

        Thank you. If you want to weigh in, by all means please do. I've just never received an independent analysis. I want an initial review--after I hopefully receive some good advice here--then after a comprehensive review of my asset allocation and actual funds/ETFs, I want someone with whom I can check in with regularly.

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