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Old 02-07-2011, 07:26 PM   #1
Deputy U.S. Marshal
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Help Financial Advisors

Do any of you guys out there utalize a financial advisor? Had a meeting with one today and really liked what he had to say. I know the old mantra's don't spend more than you make and you will be fine but I am looking for a little more advise when it comes to finances such as retirement and investments.

Again with my question does anybody use one and if so what has been your experience.

Thanks for the help.
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Old 02-07-2011, 11:23 PM   #2
Ontherocks
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A good one is worth their weight in gold. But a bad one that works on commissions and churns your account will retire on your money WAY before you will. Moral of the story - interview several, choose very carefully and WATCH very closely....

Good luck!
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Old 02-09-2011, 02:16 PM
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Old 02-10-2011, 12:07 AM   #3
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See my PM. Do some reading on personal fiancial, tax deferred investment (401K), mutual funds, investment, taxes, etc... This will equip you with good information in selecting a good financial planner. Pay attention to fee and commission since they can erode your investment. Also beware of conflict of interest from the advisor (double dip).
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Old 02-11-2011, 10:54 PM   #4
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We use Mark Cunningham with Raymond James . He is a Certified Financial Planner that has done well for us. Very personalble and will visit with you and work up a plan to meet your goals. Among others, he has a large following of Nalco Chemical retirees as clients. Been with him for two years and he stays on top of things. We met with a couple of others before choosing Mark. Mark's number is 713-572-6300.

We also retain Fisher Investments. Very large firm and we pay a premium for their services. They do well for us also but I would use someone local if you haven't already.

As stated earlier, whoever you use, make sure their title has "Certified" in it. - Craig
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Old 02-13-2011, 04:52 PM   #5
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As stated earlier, whoever you use, make sure their title has "Certified" in it. - Craig
sorry, but I can't help but think this funny.
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Old 02-13-2011, 05:54 PM   #6
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I use SWBC Investment Services, LLC. Been very pleased with them.
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Old 04-07-2011, 03:40 PM   #7
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Don't know what part of Tejas you are in, but I am in SA and we use Rudy Torres Financial. Very pleased with him so far.
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Old 04-09-2011, 08:45 PM   #8
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Planner only take your money for the same thing you can come up with. Only thing is you have to work for it. Folks it is only their opinions and nothing more. Sure they can show you good graphs (make you own) and make things sound good. If you have plenty of money and want to throw it away, hire them. Sit down and figure what you do with your money, that is all they will do for you is give you a form to fill in. Get the same off the net. MOst work on commission. Go talk to a car salesman, most likely get the same good advice.
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Old 04-25-2011, 01:58 PM   #9
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Originally Posted by banpouchi View Post
Planner only take your money for the same thing you can come up with. Only thing is you have to work for it. Folks it is only their opinions and nothing more. Sure they can show you good graphs (make you own) and make things sound good. If you have plenty of money and want to throw it away, hire them. Sit down and figure what you do with your money, that is all they will do for you is give you a form to fill in. Get the same off the net. MOst work on commission. Go talk to a car salesman, most likely get the same good advice.
I don't agree with your assessment. You may be the exception to everyone else in the world that is just starting out with investments and can do it on your own but I really doubt it.

I believe one needs a minimum of basic knowledge in how the market works, how risk enters the equation, knowledge of the terminology of the investment world, i.e. fees, expenses, loads, capital gains/losses, dividends, performance etc. How does all that enter into the price of stocks, bonds, and mutual funds? Also, one needs to understand the different types of investment accounts, IRAs, Roths, company savings/investment plans etc.

You can obtain the basics from a long involvement in investing, prodigious reading, or taking some classes at a local university. A CFP can be an enormous help in achieving your goal. CFP's get paid, some more than others. They will work for cash, a % of your investment, and other arrangements.

However you decide to pursue an investment strategy, you will need a nest egg to start with. That comes by inheritance, the lottery, or years of saving and sacrifice. The size of the initial nest egg depends on family size and other factors but any funds not needed for survival in the next 12 months should be invested in some fashion.

I recommend anyone interested in the above listen on Saturday mornings to Adam Bold of the Mutual Fund Store on Radio station 740 at 10 am. He discusses investing generally and specifically while answering questions from callers. Its free.

Good luck.
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Old 04-25-2011, 08:50 PM   #10
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I am glad you disagree Super Dave. Glad you make assumptions that I am very new to this world of investing. I have been doing this since 1993. I have had five advisors and all had one thing in common. A little gain for me. 1% commision, paid for trades, only time I hear from them is when I called or they had a stock being pushed their company, is all I got. \\

After that I got to thinking, what if I studied a bit if I could do as good or better. If you look back at my post I said I had to work for my gain. I had to do a lot. I have made mistakes, they are my mistakes and not the excuses I got from my brokers. Will I make mistakes in the future? I am sure of it, however after 11 years on my own, I am doing better then my brokers did for me.

By the way they told me I was not to smart for trying it on my own. Why should I work when they will do this and be happy to do it for only 1%. They tried the old scare tactics, you will go broke, you will loose all your retirement, How do you know how much you need to retire unless we help you,.

Guess I really got wired up when after 5 brokers, I wanted to retire before 55. I did my homework and found out about a 72T. I ask 3 more brokers about it and none of them knew what I spoke of. The 4th knew and had to go get info. I thought ok let us see where this goes. He came back and the first thing he told me was I did not want to do that. When I ask him why, we started the same old scare things stated above and then wanted to let them invest for me for the 1%.

As with all professions, there are good and bad. Maybe I hit a long line of not so good. In saying that I will say again, if you are willing to work (you can use study, watch markets, build graphs, learn to read company report etc) you can do this yourself.

I do not think this is the right track for everyone, neither do I think all folks need an advisor. I have several book about doing my own electrical work. I do some of it, however tomorrow I hire an electrician as I am not going to wire into the breaker box as it might null my insurance. Can I do it. Sure not that hard but I READ and the negative is more than I want to bear.

By the way you said you doubt I can do it, well maybe you are right but if you think you could do better, I doubt it. Again you are entitled to your opinion as I mine.

We do agree on one thing, As Don Williams sang "Listen to the Radio".
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