Financial planners

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Financial planners The Henchman 01-02-2007  Re: Financial planners Ron Rosenfeld 01-02-2007   Re: Financial planners Todd H. 01-02-2007  Re: Financial planners rick++ 01-02-2007  Re: Financial planners Don 01-02-2007  Re: Financial planners kastnna 01-02-2007  Re: Financial planners Don 01-02-2007  Re: Financial planners Elle 01-02-2007  Re: Financial planners The Henchman 01-03-2007   Re: Financial planners Todd H. 01-02-2007  Re: Financial planners boostm3 01-03-2007  Re: Financial planners Elle 01-03-2007   Re: Financial planners Todd H. 01-03-2007
Posted by boostm3 on January 3, 2007, 12:13 pm I used to use a 'financial executive'. I 'acquired' him when the amount of money I had to invest reached a certain level. I then promptly was transferred to the brokerage side of my banking institution, and found myself aligned with a banking representative who had a VP after his name, and who had no shortage of investments for me to try. After a none too satisfactory result, I decided to do things the Right way.. First, I discovered Paul Merriman and the fabulous website: fundadvice.com. Next I discovered Morningstar, and I learned why Index Funds, used with a 'buy and hold' type of philosophy, made the most sense for me. I started lurking around the Vanguard Diehards forum, and other forums found on Morningstar. I bought the Nolo book entitled 'Plan your Estate', and a couple of others like 'The Boglehead's Guide to Investing', and you know what I found? I could do perfectly well in the market WITHOUT a financial planner!! If you follow a similar path to mine, I bet youll find you can do fine also! But first, I strongly suggest you get on over to fundadvice.com and just start reading... read, read, and read some more. Take all the financial planners you want; you will usually do better than they do just by investing in about 8 Vanguard Index funds covering the key asset categories. He lists several buy and hold portfolios including one I use for my IRA. Figure what percentage in stocks and what percentage in bonds is appropriate for you and then use the following percentages. Buy it and forget about it. In the end, youll find you will outperform the vast majority of socalled financial planners, and you will have done it all by yourself, saving yourself hefty percentages and fund fees in the process!! Good luck, have fun... % Equity Vanguard FUND 12.5 500 Index 12.5 Value Index 12.5 Small Cap Index 12.5 Small Cap Value Index 20.0 Developed Markets Index 20.0 International Value 10.0 Emerging Mkt. Stock Index bond % Bond Vanguard Fund 50.0 Short-term Investment Grade 50.0 Total Bond Index Paul > How many people here give a certain amount of money each and every month to > a financial planner. Why do you or don't you. > > Or are people more likely to use them for lump sum investments..... > Posted by Elle on January 3, 2007, 4:38 pm >> > no financial planner working on commission is really >> > interested in >> > or educated to put the needs of the client first. The >> > financial >> > incentive is to sell product, regardless of its >> > appropriateness. >> >> Don't you think one could say the above about any >> profession >> or job? > > No. Lots of professions certainly, but not all. Believe > me, I've > spent a lot of time career planning such that I don't have > to be in > the position of advocating crap my customers don't need > just to make a > living. Todd, I beg your pardon. I messed up, missing your qualifier "working on commission." I tend to agree with your original post on this matter. Posted by Todd H. on January 3, 2007, 7:07 pm > >> > no financial planner working on commission is really interested > >> > in or educated to put the needs of the client first. The > >> > financial incentive is to sell product, regardless of its > >> > appropriateness. > >> > >> Don't you think one could say the above about any profession or > >> job? > > > > No. Lots of professions certainly, but not all. Believe me, I've > > spent a lot of time career planning such that I don't have to be > > in the position of advocating crap my customers don't need just to > > make a living. > > Todd, I beg your pardon. I messed up, missing your qualifier > "working on commission." > > I tend to agree with your original post on this matter. :-) I hate commissions. -- Todd H. http://www.toddh.net/ Similar Threads Posted Looking for Feedback from working Financial Planners December 4, 2006, 5:16 pm Are there any serious at home jobs for investors or financial planners? July 3, 2007, 5:08 pm need to do financial planning September 24, 2006, 10:34 am Help with some financial planning September 24, 2006, 2:47 pm Becoming a Financial Advisor...How??? March 1, 2007, 5:00 am financial advisor May 19, 2007, 4:56 am Financial Advise November 17, 2007, 1:32 pm Financial Aid for College December 26, 2007, 5:32 pm Ages for financial planning September 29, 2006, 11:10 am best approach to financial planning October 2, 2006, 7:15 pm