Fee Based Financial Advisor

[Davonu]

I don't post that often on ToTV, but I read it a lot and like all the information provided. So I thought I'd ask my own question...

I'm looking for a financial advisor, but not one who has a product to sell. I want to just pay a fee for the specific questions I have and advice I'm looking for. It might be real estate related, or related to using some money in a retirement plan for something else, and other miscellaneous things like that.

Again, not interested in talking to anybody who has a product to sell...only his or her financial advice services.

Thanks.

[villagetinker]

We use Ameriprise, while they have a office in the villages, I have continued to use my advisor back up North, I have been very pleased with his advice, especially recently. Now not sure they will be able or willing to work with you on what you want, but a phone call would not hurt.

[Indy-Guy]

Garrett Planning Network - Making competent, objective financial advice accessible (https://garrettplanningnetwork.com/)

Have not used them but they are highly reccomended. They have a representative in Brooksville about 35 miles away.

Recommended by Clark Howard.

Clark’s Take: These Investment Companies Offer You the Best Bang for Your Buck - Clark Howard (https://clark.com/personal-finance-credit/investing-retirement/recommended-fiduciary-brokers/)

[retiredguy123]

Vanguard Investments has certified financial planners who will provide free advice on the phone by appointment. But, I think you may need to have a certain amount of assets invested with them. They are one of the best companies to invest with, and they are also recommended by Clark Howard.

[l2ridehd]

Vanguard Investments has certified financial planners who will provide free advice on the phone by appointment. But, I think you may need to have a certain amount of assets invested with them. They are one of the best companies to invest with, and they are also recommended by Clark Howard.

Go to bogleheads.org and ask your questions. Sift through the answers, but you will get very sound advice.

[petsetc]

Free on line including 3 free ebooks - Paul Merriman | Sound Investing for Every Stage of Life (https://paulmerriman.com/)

[Steve-Ryzel]

Free on line including 3 free ebooks - Paul Merriman | Sound Investing for Every Stage of Life (https://paulmerriman.com/)


I've been listening to the Paul Merriman podcasts for years. His website is also chalked full of very helpful information as well as his free ebooks.

[pqrstar]

[QUOTE=Davonu;1724521...I'm looking for a financial advisor, but not one who has a product to sell.
Thanks.[/QUOTE]


Lake Advisory Group
Financial planner in Lady Lake, Florida
108 S Old Dixie Hwy, Lady Lake, FL 32159
Phone: (352) 350-2008

[Drdoug49]

Fidelity has an office at Sumter landing, you could stop in.

[Marykess1802]

George Mathis at Raymond James in Brownwood. One of the best. He listens.

[Bob45]

There are investment clubs here. Maybe one of those would work.
Bob

[sandybeachgal]

I don't post that often on ToTV, but I read it a lot and like all the information provided. So I thought I'd ask my own question...

I'm looking for a financial advisor, but not one who has a product to sell. I want to just pay a fee for the specific questions I have and advice I'm looking for. It might be real estate related, or related to using some money in a retirement plan for something else, and other miscellaneous things like that.

Again, not interested in talking to anybody who has a product to sell...only his or her financial advice services.

Thanks.

What you are describing is NOT FEE BASED. You are describing FEE ONLY. Fee Based still involves selling financial products and involves commissions. Fee Only advisors do not sell/push products. They typically charge an annual fee (maybe charged in quarters), based on your assets, or possibly an hourly rate in addition to or in place of, an annual fee. Make sure you understand the difference before you shop around for a financial advisor. There are lots of informative websites which detail the differences between Fee Based and Fee Only. There are independent advisors, and then there are those who work for larger firms. There are not many large firms near the Villages, however, we have found that those located in Orlando (and even Gainesville) will drive to the Villages for appointments with clients. You will have to decide with whom you feel most comfortable -- an independent advisor, or one of the larger firms. Both have their pros and cons, of course. Search online for FEE ONLY FINANCIAL ADVISORS for additional resources.

[theroar]

You can find a listing for CFP's online. You really need to meet with several and discuss your needs and fees. Be sure they are "fee only" and not selling investment products. I interviewed three and have been with the same advisor for ten yrs. Mine is a CPA as well which works well for tax purposes. Good luck.

[prntxpresn]

Paul (paul.d.zirakian@raymondjames.com) - Raymond James in Brownwood. Creates portfolio based on what you tell him at only 1%. & also recommends. Friendly, caring & good looking.

[ColdNoMore]

In this day and age where so much financial data is at one's fingertips, I can't imagine ever having someone else...manage MY money.

If I did though, the first question to the person would be; "Please show me proof of your own...personal net worth." :popcorn:

[biker1]

If you really want a person to talk to, Vanguard will provide a financial advisor for 0.3%. This is pretty much in line with the cost of robo advisors. They will put you in Vanguard products but that is actually a good thing since their fees are pretty low. I don’t use their financial advisors but I have spoken to a few and they had a reasonable approach.


Paul (paul.d.zirakian@raymondjames.com) - Raymond James in Brownwood. Creates portfolio based on what you tell him at only 1%. & also recommends. Friendly, caring & good looking.

[walterray1]

Charles Schwab is an excellent place to start. They have an office in Sumter Landing.

[Polar Bear]

Thanks for all the input. But I need to clarify a bit...

I manage our nest egg myself and have no plans to change that. I’m looking for some help with questions regarding other types of financial possibilities, not funds investing. An example is the possible purchase of a second home vs renting.

(Before you start replying with specifics related to that, it’s very much an over-simplification with many other factors involved. Thus the desire for a financial advisor.)

I could use advice in other topics also...but not related directly to funds investing.

Thanks again. Keep the good info coming. :)

[DDePippo]

Try aaa. No fees involved.

[CoachKandSportsguy]

Are you looking for an excel model which you can plug in different options to make a decision?
As a corporate financial professional I can help you built something like that, since that's what I have done for the last 30 years.

sportsguy

[Dan9871]

I could use advice in other topics also...but not related directly to funds investing.

Thanks again. Keep the good info coming. :)

It looks like you are looking for some fairly wide ranging financial advice.

The previous suggestion of looking into Schwab was a good one. The advisors there are on salary not commission. Some are very knowledgeable, but there is a variance, so you would have to spend some time to pick one you would want to work with. However I don't think they act as fiduciaries, which means they are not focused on what is best for you but only what is legally appropriate for you. Their advice is free. You need an account but I don't think the size matters at all.

For typical questions about securities I think Schwab is a good resource though I think there is some variability in Schwab's advisors. In the past I've gotten good information from them. But I don't think they would be useful for a rent or buy a house kind of question.

A CPA is another possibility, but not in general. Some, but not all, have a lot of experience with a wide range of financial issues. If I had a rent or buy question, or any personal finance Issue , my CPA is one of first people I would go to. I would go to him for general securities info too. But not for stock recommendations of course, but for things about how a particular kind of investment works. But, based on my limited experience with CPA's it is hard to find one who is responsive and has wide general knowledge.

So, just like getting an advisor at Schwab, you will have to do some looking around to find a CPA that will work for you.

Lastly, and I know that this isn't what you are looking for just and an example of an information source, a traditional, fiduciary financial advisor who manages your portfolio can, but again not always, be a great source of financial information. My financial advisor would be the other person I would go to if I had a buy versus rent question. I've also been able to get information of stocks or bonds at any depth I wanted... not just the numbers but analysis and insight into what the numbers mean in my particular financial situation.

I use both my CPA and my FA to understand tax and other personal financial issues. They both have been great and responsive sources of information and advice.

It took a long time to find a CPA and FA I had confidence in and who I felt knew a lot more about their topics the I did. Most just run off a recipe and don't have a fundamental understanding of things. The CPA I found by luck. Schwab was a big help in finding the FA (not a Schwab advisor) I have.

Also a number of online, free financial info sources have been mentions. They can also be great places to get info but they depend on your insight and experience and time to separate the wheat from the chaff.

But underlying all this stuff is cost. I don't think you can get the wide ranging, in depth, quality, responsive, fee only kind of info you seem to be looking for, for $100 a month. For $1000 a month, maybe. That's just my opinion based on my limited experience with my own finances.