Financial advisors

Submitted by Louis Magnotti on Sat, 2019-07-13 17:15

Ed stresses the importance of retaining a good financial advisor, however the 2 prominate advisors that we sat with all wanted us to sell all of our IRA mutual funds and purchase the ones they manage. Is that the only way to get an advisor?



Submitted by Alan - IRA critic on Sat, 2019-07-13 21:53

That will occur with some advisors, but certainly not with all of them. There are a rapidly growing number of advice models on the market, and eventually when the fiduciary rules get hammered out there will be a liability exposure if an advisor cannot show the selection was made in your best interests. The courts will have a major roles in this process.

Submitted by Bruce Steiner on Sun, 2019-07-14 21:10

  • Some get commissions on what they sell, some get fees based on the amount of assets, and some work on a time basis.  What type of advice are you looking for?
  • You used the word “good” before the words “financial advisor.”  If you’re able to determine which ones are good, you might not need one.

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