Looking for a Financial Advisor

Amazon
uxWJ52

Go to company page Amazon

uxWJ52
May 1, 2021 20 Comments

Looking to consult with a financial advisor for diversification and long term plan.
Anyone use Personal Capital or others and have any feedback on how/why you hired someone?
TC: 400k

#personalfinance #investments

20

comments

Want to comment? LOG IN or SIGN UP
  1. TOP
  2. RECENT
  3. OLD
 TOP 20 Comments
  • Amazon
    Jassy Andy

    Go to company page Amazon

    Jassy Andy
    Try Vanguard Personal Advisor Services. They have a fiduciary responsibility to you, and charge only 30 bps. Minimum $50K required.
    May 1, 2021 4
    • Roblox
      pid1!

      Go to company page Roblox

      pid1!
      Do you know if Morgan Stanley advisors are fiduciary? How can I make sure the advisor I am hiring is a fiduciary? If I ask them straight up, Are they obligated to tell me honestly?
      May 1, 2021
    • Amazon
      Jassy Andy

      Go to company page Amazon

      Jassy Andy
      Yes, they’re obligated to tell you. If they are, they’ll be proud of it as it’s a reason to hire them. If they dodge, then they’re not.
      May 1, 2021
  • New / IT
    x6t2o7f

    New IT

     x6t2o7f
    I found an FA that was a great fit for me as he deals with accredited investors (those with 1M or more in net worth). I'm sure there are lots of folks on blind that have done way better than me (him), but as an example he got me 18.1% return in the last 12 months on my "traditional" investments. On the real estate and private equity investments I get a 9% return (cashflow), but there are other perks like appreciation, tax depreciation/write offs that drive that return higher.

    I only found my FA a few years ago and so wish I would have found him years ago. It can make a huge difference. Oh yeah... I pay 1% in fees to him on most of the transactions (some are structured that I pay less).

    Good luck!
    May 3, 2021 3
    • New / IT
      x6t2o7f

      New IT

       x6t2o7f
      I asked around and searched online for someone that was knowledgeable about real estate in particular. I had phone conversations with a few of them… I found this guy to speak in terms that made sense to me.
      May 4, 2021
    • Oracle
      exec.tty

      Go to company page Oracle

      exec.tty
      @x6t2o7f: Can you DM me your FA’s information?
      Aug 23, 2021
  • Amazon
    Jassy Andy

    Go to company page Amazon

    Jassy Andy
    @Fe26de Questions for you, how much does your FA charge and how are they paid? Do they have a fiduciary responsibility to you? Have they outperformed the relevant indexes after fees?
    May 1, 2021 3
    • Amazon
      Jassy Andy

      Go to company page Amazon

      Jassy Andy
      Sounds like you know what you’re doing. Good luck!
      May 1, 2021
    • Adobe
      Fe26de

      Go to company page Adobe

      Fe26de
      Thank you.

      Btw, as I mentioned, we still watch the market. We fired our previous FA who stopped performing for us after their company was merged with a bigger Financial company. We think maybe the focus of their business shifted. Whatever it was, we were no longer seeing the returns we should so they had to go.

      Sharing so others realize they should pay attention and fire their FA, if needed.
      May 1, 2021
  • You don't really need a financial advisor. There are some basic investment vessels you can throw cash at that will diversify you. It won't feel as gratifying as owning bars of gold, or real estate titles, but it'll take zero work, scale instantly, and be completely passive and hands off. It'd just be numbers on a spreadsheet, but it'd be fully diversified
    May 1, 2021 1
  • New
    zXTw78

    New

    zXTw78
    I'm a fee-only, fiduciary wealth advisor at a small boutique wealth mgmt firm that works with clients across the country. I've got a law degree, finance MBA & CFP. Happy to chat if you have questions.

    Biggest thing I'd suggest is finding someone whose not just selling you insurance or solely managing investments (hard to determine out of the gate). Asking the following of any advisor is key...1) How do you get paid? 2) Are you required to always act in my best interests? (Are you a fiduciary?) 3) Are you paid to invest me in specific investments or products? 4) Can you explain your qualifications? & 5) What are my all-in costs?
    May 14, 2021 0