I have been kicking the tire around meeting with a financial planner for a while now. I finally decided to make an appointment for my husband and I to meet with one to have a consultation. He told us the initial consultation was free and they determine how much they charge you based on how much money you make. I asked him what I needed to bring and he said to just bring a few figures like debit, mortage, salary, etc. And I assumed he would be interested in my budget too...but that wasnt the case. I haven't been to one before so I wasn't sure what to expect...but I was a little disappointed when I left. So we were told everything that would be part of his package, which sounded good but then I was told the fee was going to be $850....which shocked me. While I didnt expect it to be free or 'cheap' necessarily but I wasn't expecting that much money!! I could see maybe $50 +/- an hour/per session or something along those lines but not a flat fee of that much money!! On top of that, we didn't even really discuss my situation at all -- which I would have thought he could have atleast done some sort of mini-assessment or SOMETHING that would make me think I would be getting a good value on my money. But it wasn't to be - it was a very short session to tell me what I would get and what it would cost and that was it. Soooooo....I'm thinking I will pass and it makes me a little sad. I was looking forward to the experience and insight. Maybe I just need to find someone else and interview a couple of people to find one I like.
any of you have experience with financial planners? and what makes a good one??
Financial Planner
July 1st, 2011 at 04:37 am
July 1st, 2011 at 01:46 pm 1309527977
Please remember that all financial planners do have some bit of interest in selling you a product. They have to make money. It might be a flat fee for services, or commissions from selling mutual funds. Many, in my opinion, are more interested in their earnings first.
You might look at Dave Ramsey's website and look for a link for his Investing ELP. These individuals have been screened and would definitely be interesting in your current financial situation.
July 1st, 2011 at 04:11 pm 1309536673
Jerry
July 1st, 2011 at 06:18 pm 1309544295