fee only financial advisor

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
prk
Posts: 107
Joined: Wed Jul 09, 2008 1:39 pm

fee only financial advisor

Post by prk »

i live in the northeast and am looking for a fee only financial advisor

is there a good website that might help?
bwalling
Posts: 129
Joined: Thu Nov 25, 2010 1:04 pm

Re: fee only financial advisor

Post by bwalling »

https://www.napfa.org/ is probably your best bet.
Topic Author
prk
Posts: 107
Joined: Wed Jul 09, 2008 1:39 pm

Re: fee only financial advisor

Post by prk »

is there some way to screen them for quality?
daw007
Posts: 13
Joined: Wed Nov 07, 2012 4:58 pm

Re: fee only financial advisor

Post by daw007 »

I think it depends on what you need your financial advisor to do honestly. Do you need someone to walk you through asset allocation? managing debt? figuring out how much insurance you need?

Some financial advisors specialize in retirees vs young professionals starting out, etc. So I'd interview looking for a person that does what you need.

In addition, fee-only is a catch all term. I personally hate AUM models because I feel it disguises how much you pay. I'd rather do a monthly fee or perhaps a set amount for an overarching plan and then an hourly after...

A couple of boglehead style advisors I've heard people speaking highly of are Allan Roth and Rick Ferri. Neither, however, are in the NE. Though in the world of COVID19, I feel like virtual advising is very viable.
MikeG62
Posts: 3446
Joined: Tue Nov 15, 2016 3:20 pm
Location: New Jersey

Re: fee only financial advisor

Post by MikeG62 »

prk wrote: Tue Jan 12, 2021 9:58 pm is there some way to screen them for quality?
You may want to consider Harry Sit. Harry has a service where for a modest fee (~$200) he will locate three financial planners in your area for you to consider - folks who work on a fee for hour (advice only) basis (no AUM fees). If I wanted a fee-only planner, I'd strongly consider letting him do the legwork for me. Harry also posts on these boards from time to time.

https://adviceonlyfinancial.com/

Full disclosure - I have no relationship with him. Never met or spoke or wrote to him. However, I think he will find someone competent for you.
Real Knowledge Comes Only From Experience
afan
Posts: 5390
Joined: Sun Jul 25, 2010 4:01 pm

Re: fee only financial advisor

Post by afan »

I would not require that your planner be anywhere near you. Just that they be good. No need to meet in person and wanting that limits your options.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama
Post Reply