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For questions related to evaluating, choosing, and understanding a financial adviser. However, specific service recommendations are off-topic.

0
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3answers
130 views

Considering leverage [closed]

I started investing two years ago. Currently my situation is as follows: I earn 1700 € per month and manage to save 1200. To be Conservative and as rents are going up in my country, we can assume ...
3
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0answers
41 views

Familial exemption for investment advisor [migrated]

My parents have asked me to trade for them and they offered me a fraction of any profit. My plan is to set up a limited trade agreement and then manage the account's trades. Before doing so, I want ...
25
votes
8answers
5k views

Fee-only financial advice vs. asset management (which includes advice)?

My wife and I are looking for a financial advisor. I am 52 and she is 48. We have a million plus in assets, with most of that in 401k... about 500,000 in a brokerage account. We have found a ...
2
votes
3answers
205 views

Should I get a financial advisor?

I am 21 years old and graduated from college and I obtained a decent job. I have read a lot about managing money, and I believe I could manage my own money by myself. I am interested in maybe going a ...
2
votes
1answer
158 views

Signing house over to next of kin

A friend has been considering signing her house off to her children (48 and 47 years old) but believes that there is an age limit which she has passed, supposedly 60 and she is now 70. Is this a real ...
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0answers
171 views

How to regain credit after two car voluntary repossesion, five credit cards amount to 10K?

What are the necessary steps to get back on the road to fixing a credit after not paying 10K worth of credit cards (behind 6 payments for 6 months) and two car voluntary repossession? This is after a ...
3
votes
1answer
125 views

Securities sold without either your or your financial advisor's permission

In the United States, if one of your securities gets sold off that you didn't want sold off, and your financial advisor says he's not the one who did it, but it was in fact one of his underlings, is ...
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0answers
48 views

Effective interest rate versus straight line method [closed]

In order to account for financing costs & a placement premia/discounts of debt instruments, the effective interest method seems more elegant than the straight-line method (interest rate stays as % ...
18
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4answers
4k views

How to be sure my advisor's insurance recommendations are good for me?

Recently, I've been in contact with my financial advisor who has been talking me through a few risk management strategies, as well as other short- and long-term financial goals for retirement, kid's ...
4
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3answers
612 views

How do Financial advisors ( Wealth Management) make their commission?

My 401K is tied up through my Employer and through their financial institution. So your options are to buy what they are offering. Either I understood or not, i take what they are recommending. I ...
2
votes
5answers
555 views

$10,000 minimum fee for a financial advisor?

My wife & I have company pension plans which together have about 1 million in savings (thanks stock market). Since we're close to 60 years of age, retirement is approaching, and while we haven't ...
3
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0answers
122 views

How can I make sure my financial advisor has a good track of success?

I will be exiting my main business real soon and projecting that in 2 years time I will also exit my other businesses or at least sell them at whatever someone is willing to pay. This will net me ...
20
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3answers
5k views

What are reasonable fees for financial advice?

I'm currently looking for a fee-only financial advisor. About 15 years ago I met with someone who prepared a simple financial plan over a few hours; this cost me $300 and was among the best choices I ...
31
votes
4answers
9k views

What are the benefits and disadvantages of investing $60-70K in the following methods?

I have $60-70K that I'm planning on investing in stocks/ETFs/funds. What are some of the advantages and disadvantages of investing this amount of money with a human financial advisor vs an automated "...
5
votes
1answer
375 views

Have my parents been bilked? If so, what to do?

My almost 66-year-old dad, who retired a year ago, asked me for some financial advice today. He and my mom invested in two IRAs with a financial advisor just shy of 20 years ago. This is a custodial ...
1
vote
2answers
103 views

Are institutions like UBS limited in what they can buy, does that put the investor at a disadvantage?

I try to help with the finances of family members to make sure they are making wise decisions. I have a family member that is invested with UBS, and they have a financial advisor there that they have ...
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votes
1answer
1k views

Want to buy a car but have not enough money [closed]

I'm still at a very early stage of my professional career and my salary is still very low. I work in the IT field. I have a dream of buying my own car. The current price of my desired car is 200 times ...
1
vote
3answers
270 views

Should I trust my banker to invest?

Let's assume I've no knowledge or skill in investing and that I've a 19 year old French student. Also, I earn 750€ per month, until I'm 21 when I will earn 950€. These are after-tax numbers. My ...
-2
votes
1answer
181 views

How to hire a professional for managing $5 million and above?

I need to hire a professional for managing an investment of $5 million and above. The goal of the investment is growth and wealth protection. I would like to hire a professional that I can fully ...
7
votes
1answer
229 views

Is it legal to charge others a fee if I handle their money for them unlicensed?

Let's say that a friend or two wants to give me x amount of dollars and asks me to invest in things. I charge them a fee or percentage even though I have no license to be a financial advisor or ...
2
votes
1answer
177 views

Is the financial advice my elderly relative received legal/ethical?

An elderly relative (over 70) received financial advice from a regulated financial advisory company (in the UK). The service invested the money for them in several stock-market funds for a fee of 1% ...
1
vote
3answers
243 views

Why don't financial advisers count home value?

I notice that retirement/financial advisers don't seem to consider home value when tallying retirement savings. Why is this? Not having to pay rent every month is a huge advantage during ...
7
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7answers
4k views

Should I Use an Investment Professional?

A recent article I read cited: People who work with an investment professional are nearly twice as likely to those who DIY to feel confident that they will have enough money to retire. and 44%...
0
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0answers
32 views

What to look for in a Financial Manager [duplicate]

I am looking to set up a retirement fund. I am possibly going to do this through a financial manager at my local credit union. Would you recommend this? What should I look for in a financial manager? ...
4
votes
3answers
210 views

Can anybody explain “sending your money off to do the heavy lifting” for me, please?

Sean Gould, a wealth strategist with Waddell and Associates and a certified financial planner, explains that before sending your money off to do the heavy lifting, you'll want to have an emergency ...
4
votes
1answer
177 views

College Debt/Collections

I graduated from a community college in Alabama 10 years ago on scholarship. I receive a call from an attorney a few months ago regarding unpaid tuition/fees from this particular college.He is ...
0
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0answers
59 views

Getting my first secure credit card [duplicate]

I'm about to get my first credit card its referred to as a secure card from capital one with a $200 line of credit after a $200 deposit. My credit score is 505 any tips or suggestions on building my ...
6
votes
2answers
158 views

Consolidating company pensions

I am a 33 year old IT contractor and have 3 company pensions from previous employment over the years. I am looking in to consolidating my pensions and to start adding personal monthly contributions. ...
46
votes
7answers
6k views

How do I go about finding an honest & ethical financial advisor?

First things first, this isn't a "recommend a good financial advisor" question. I'm looking for advice on how best to approach the world of assisted personal finance & investing. I'm currently at ...
2
votes
2answers
112 views

How does a financial advisor choose debt funds and equity funds for us?

My Certified Financial Planner took a look at my financial goals and came up with some debt and equity funds I could invest in. A few months later I saw a newspaper article where another financial ...
2
votes
1answer
37 views

Do fixed fee CFP's earn from recommendations of mutual funds or fund houses or brokerage firms?

I know of Certified Financial Planners who earn a commission from the investments their clients make, but there is an explicit agreement between the planner and the client for this. There are also ...
27
votes
7answers
8k views

I have savings and excess income. Is it time for me to find a financial advisor?

My current status looks like this: I am a single professional engineer in bay area in my thirties. I invest on our company stock every month, as ESPP, and after that I have ~4.5k net income every ...
3
votes
1answer
79 views

Is there a fiduciary responsibility for agents in India?

I have come across many agents, bank employees (including so called financial advisors) who won't think twice before recommending a policy/fund/instrument for the sole purpose of higher commission. ...
10
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3answers
1k views

Risks of using a “free” (non-fee-only) financial planner for investing a substantial sum?

I have a substantial (at least to me) amount of money from the sale of a second home. The money is momentarily in a savings account at a big branch bank in the US. The amount is such that I have ...
19
votes
5answers
2k views

Advice for college student: Should I hire a financial adviser or just invest in index funds?

I just started college and after calculating the cost for my degree I calculated that I have $50,000 that I wont need until after college. I think that the best think for me to do with that money is ...
3
votes
4answers
227 views

What is the preferred way to set up personal finances?

I'm trying to figure out how to set up a personal finance system that is simple. I want to know things like: How many bank accounts should I have and what kinds, and how much (percentage-wise) of my ...
2
votes
1answer
86 views

How secure is my data in the hands of a financial planner?

I consult with a Certified Financial Planner who charges an annual fee. The person seems reliable and seems to have integrity, but also has a few people working under her whom I know nothing about. ...
4
votes
1answer
95 views

Is capturing a loss a unique opportunity?

Upon the advice of a financial planner at a large financial management firm, a friend bought an individual stock, Apache, as part of their portfolio. That stock has since lost over 50% of its value. ...
4
votes
3answers
573 views

First time mortgage - process & rates

I'm looking to buy a first home in the next few months. At this point I thought I would check out the mortgage options as in my mind I'd need to have a mortgage agreed before going to look at houses. ...
4
votes
2answers
2k views

Can I use balance transfer to buy car?

I am in market to buy new car but I am a little short on money. I could finance the car but if buy on cash, I will qualify for additional savings up to $1000. Furthermore even if I finance the car ...
12
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2answers
1k views

Roth IRA: Vanguard vs Free Advisor's Mutual Fund

Background: I recently turned 25 and became applicable to invest into my employer's 401K. Due to no matching, I have 3% allocated in as a supplemental retirement fund. Currently single, rent (no ...
3
votes
2answers
297 views

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years ?. My personal details are: Age 35, married with a 3 year old daughter IT consultant with a ...
6
votes
2answers
262 views

UK citizen going to freelance overseas - what type of specialist should I talk to for tax/registration advice?

I'm planning to leave the UK for around 12 months and work freelance in a non-EU country. I know there are many things I need to get right in terms of registration and financial declarations, tax ...
3
votes
1answer
212 views

Is there a kind of financial advisor for stock investors? How to find a good one?

I've been at a company for a few years and have some restricted stock units (RSUs) that have vested. I'm on E*Trade and know a little about stocks, but I'm no expert. Is there a financial advisor of ...
1
vote
1answer
93 views

Loan Repayment and Salary Decisions

I have an LLC in CA with my brother acting as the primary member of the company. In an effort to get the company started and to get us through some growing pains I loaned the company money, around ...
3
votes
1answer
74 views

How difficult would it be to refinance a second mortgage?

Some years back, my mom, now 80, took out a second mortgage on her house. I don't think it was a wise decision, but of course we can't do anything about that now. She recently complained that most of ...
0
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1answer
256 views

40 year old A and J makes 1M a year. What is the best investment to save on tax?

We have been very fortunate, also hard working and frugal . Now A and J all had several promotions in the past a few years, and the rental properties are paid off. The tax bills are getting pretty ...
0
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1answer
83 views

Fee-Based Online Financial Planners [duplicate]

I've looked at some online financial planners (e.g. Personal Capital) and it looks like all of them charge based on a percentage of the portfolio being managed. I am looking for a site to help create ...
8
votes
5answers
431 views

Need something more basic than a financial advisor or planner

Is there a professional that one can go to in order to assess one's current financial situation and get advice and follow-through on what one can do in order to correct financial errors one has made, ...
5
votes
2answers
995 views

What does a CFP do?

I am looking into getting a life insurance policy. Many people recommend that I consult with a CFP, others that I just get into the meat grinder and apply online at a big financial firm such as AIG, ...