thebug Posted May 6, 2010 Posted May 6, 2010 Sorry, anytime I hear "financial advisor" it reminds me of that part of the movie Shark Tales. I think I have seen it 20 times (my kids love it).
linksfiend Posted May 6, 2010 Posted May 6, 2010 Right now I am 27 and married. I have been investing into my 401k at the max the government will allow me and my wife is as well (she is 29). I also contribute 8% to my employers stock purchase plan because I am currently making nearly 12$ for every share I purchase (of course that will change with the next offering period). My 401k was set up 2 years ago by a financial planner that was a relative of a friend and hasnt been altered since. I liked him but he worked for AXA which is a real big investing company which most likely means I would some how be getting screwed. That is the extent of my investing. My cousin works at AXA in Amherst. I believe he's honest. I'm savy enough to do my own investing so I don't use him. But both my brother and sister invest with him and seem happy enough. From what I can determine, he doesn't invest them in any front loaded (sales load) mutual funds or back loaded (redemption load) funds. So I guess he's just getting paid a percentage out of the 12b-1 fees which didn't seem that high.
plenzmd1 Posted May 6, 2010 Posted May 6, 2010 Only work with an advisor who does not have food preparation in his backgrou nd No right or wrong herem but as the smart ones suggested get referrals from folks in pretty similiar financial situations to yours. But here is who I use for all of my financial advice http://www.locksmithsportspicks.com/
SDS Posted May 6, 2010 Posted May 6, 2010 ricedelman.com they will work with you over the phone. Books, radio shows, award winning financial firm, informative newsletters, PBS show. He runs a fantastic outfit. He is our advisor.
Chef Jim Posted May 6, 2010 Posted May 6, 2010 ricedelman.com they will work with you over the phone. Books, radio shows, award winning financial firm, informative newsletters, PBS show. He runs a fantastic outfit. He is our advisor. He is? How many times has he sat down with you?
plenzmd1 Posted May 6, 2010 Posted May 6, 2010 He is? How many times has he sat down with you? He is quite good from the folks I know that use his firm..not nessacrily Ric himself, but one of his agents. That dude is a classic example of how to build a practice, what a success story. Classic case of getting a radio show and seeing your business explode. Seems like he has been on the radio in DC sinse I moved there in 88. Had a good friend that pursued a job with Edelman for about 18 months, constantly pinging Ric, sending him letters etc ala Charlie Sheen in Wall Street. Finally gets a job there, and two months later drops dead for a massive at the age of 38.
BillsFanNC Posted May 6, 2010 Posted May 6, 2010 ricedelman.com they will work with you over the phone. Books, radio shows, award winning financial firm, informative newsletters, PBS show. He runs a fantastic outfit. He is our advisor. I have heard Ric Edelman and believe he generally gives sound advice, but his fees in my opinion are way too high. EMAP clients pay no commissions, trading costs, brokerage fees or other administrative charges. Instead, EMAP features a single annual fee, calculated and debited quarterly from your EMAP account. It appears directly on your statement. The annual fee schedule is shown below: First $150,000 2.00% Next $250,000 1.65% Next $350,000 1.25% Next $250,000 1.00% Next $2 million 0.75% Next $7 million 0.60% Next $15 million 0.50% Amounts above $25 million are negotiable
taterhill Posted May 6, 2010 Posted May 6, 2010 I have heard Ric Edelman and believe he generally gives sound advice, but his fees in my opinion are way too high. At Least he uses ETF's and institutional funds....I have seen advisors tack on similar fees to loaded funds and Variable Annuities......crazy....I recently put together 2 advisory services that I think will work well in areas people are gouged pretty good...401k and 403b..... We have put together a no-load/etf 401k platform that keeps fund/advisory fees under 100bps.....most people pay 150-250 and have no idea... We have also put together a flat fee 403b account through fidelity no-load....saves people tons on the high fee funds and Variable annuities that are offered at most schools.... Ok my commercial is done.....
SDS Posted May 7, 2010 Posted May 7, 2010 He is? How many times has he sat down with you? I have not met him face to face, but he has called me personally several times. He personally handled our account for a period of time. However, the form is structured as many people - one voice.
SDS Posted May 7, 2010 Posted May 7, 2010 I have heard Ric Edelman and believe he generally gives sound advice, but his fees in my opinion are way too high. There was a time when we started that we had a few issues that we weren't happy with. He immediately called us on the phone and told us to stop paying him fees until we were happy again... for how ever long that took. and, FWIW, I trust him. That comes with a price tag that I happily pay.
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