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Posted by HW \"Skip\" Weldon on October 27, 2006, 9:12 am
wrote:
>I'm looking for a fee-only advisor near the Philly area (preferably in
>southern new jersey). I posted awhile back and was given some links to
>national organizations, but the one has a questionaire that asks how
>much id want to invest with the advisor..... well, the answer is none,
>I only want their un-biased advice. Am I going to be out of luck?
You are correct that "fee-only" has morphed into mostly investment
management. Rarely do you encounter someone who provides advisory
services only and exclusively on an hourly rate basis.
My suggestion would be to ask around - friends, other professionals,
business writers for the local paper, etc. Also, financial
consultants like this have to register with state authorities as
"Investment Advisors" (don't let the name throw you.) In my state
that job falls under the Attorney General's office. So call your
State office, find out who registers Investment Advisers, and get a
list. Remember that all sorts of folks are on it - fee-only money
managers, fee-based (those who work on a fee and/or commission basis),
etc. But if there is an hourly-only fee-only consultant in your area,
they will be on that list. Once you have that list start calling.
They are rare - especially those with sufficient experience - and you
may indeed be out of luck.
Good luck.
-HW "Skip" Weldon
Columbia, SC
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