Comments on: Independent Financial Advisors or Not? My Interview with 4 Advisors http://www.askmrcreditcard.com/creditcardblog/independentfinancialadvisors/ Latest Credit Card News, Reviews and Information Thu, 08 Jan 2009 11:59:46 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Linda http://www.askmrcreditcard.com/creditcardblog/independentfinancialadvisors/comment-page-1/#comment-24691 Linda Sun, 01 Jul 2007 14:41:27 +0000 http://askmrcreditcard.com/creditcardblog/independentfinancialadvisors/#comment-24691 Interesting. I'm thinking that the second guy from Ameriprise was also charing you a wrap fee, which you did not mention. Otherwise, he couldn't stay in business. The wrap fee was probably 1 - 1.5% of your assets. An important point to mention is that using a financial advisor is a sure way to get low returns. A scientific study has proven that DIY'ers do MUCH better than those people using financial advisors: http://advisor.morningstar.com/articles/Doc.asp?docId=4482 Interesting. I’m thinking that the second guy from Ameriprise was also charing you a wrap fee, which you did not mention. Otherwise, he couldn’t stay in business. The wrap fee was probably 1 - 1.5% of your assets.

An important point to mention is that using a financial advisor is a sure way to get low returns. A scientific study has proven that DIY’ers do MUCH better than those people using financial advisors:

http://advisor.morningstar.com/articles/Doc.asp?docId=4482

]]> By: Personal finance at KMull.com http://www.askmrcreditcard.com/creditcardblog/independentfinancialadvisors/comment-page-1/#comment-20268 Personal finance at KMull.com Thu, 14 Jun 2007 18:09:11 +0000 http://askmrcreditcard.com/creditcardblog/independentfinancialadvisors/#comment-20268 [...] Ask Mr. Credit interviewed 4 financial planners. Very interesting stuff about planning out his portfolio. [...] [...] Ask Mr. Credit interviewed 4 financial planners. Very interesting stuff about planning out his portfolio. [...]

]]> By: pf101 http://www.askmrcreditcard.com/creditcardblog/independentfinancialadvisors/comment-page-1/#comment-19847 pf101 Mon, 11 Jun 2007 08:20:54 +0000 http://askmrcreditcard.com/creditcardblog/independentfinancialadvisors/#comment-19847 Thanks for posting this. It's always interesting to me to hear about people's experiences with financial planners. You seem to have had a decent experience which is rare (you should hear some of the stories I hear...crazy stuff and what prompted me to start my company). Personally I'm very pro-DIY and anti-planner which some people find odd considering I am a financial planner. :-) People need to make the choice that's right for them and as long as they go in with eyes open and at least a base level of knowledge so they don't get screwed (that's the service I provide) then they're probably going to be ok. I look forward to learning more about how this works out for you. Thanks for posting. Thanks for posting this. It’s always interesting to me to hear about people’s experiences with financial planners. You seem to have had a decent experience which is rare (you should hear some of the stories I hear…crazy stuff and what prompted me to start my company). Personally I’m very pro-DIY and anti-planner which some people find odd considering I am a financial planner. :-) People need to make the choice that’s right for them and as long as they go in with eyes open and at least a base level of knowledge so they don’t get screwed (that’s the service I provide) then they’re probably going to be ok. I look forward to learning more about how this works out for you. Thanks for posting.

]]> By: AnotherConsumer http://www.askmrcreditcard.com/creditcardblog/independentfinancialadvisors/comment-page-1/#comment-19500 AnotherConsumer Sat, 09 Jun 2007 18:33:50 +0000 http://askmrcreditcard.com/creditcardblog/independentfinancialadvisors/#comment-19500 There are a couple sites that have checklist-like tools that might be helpful when planning for retirement: - http://wiseupwomen.tamu.edu/ A financial literacy program for women run by the Department of Labor. - http://www.choosetosave.org/ballpark/ The Employee Research Benefits Institute, which has a pdf you can fill out to estimate your retirement needs - http://beta.boulevardr.com A step-by-step process to get on track for retirement, created by leading independent financial advisors. There are a couple sites that have checklist-like tools that might be helpful when planning for retirement:

- http://wiseupwomen.tamu.edu/
A financial literacy program for women run by the Department of Labor.

- http://www.choosetosave.org/ballpark/
The Employee Research Benefits Institute, which has a pdf you can fill out to estimate your retirement needs

- http://beta.boulevardr.com
A step-by-step process to get on track for retirement, created by leading independent financial advisors.

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