Comments on: The Personal Finance Hour, Episode 10: Finding Financial Advisors http://www.getrichslowly.org/blog/2009/06/01/the-personal-finance-hour-episode-10-finding-financial-advisors/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Wed, 22 May 2013 16:01:43 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Kristin Harad http://www.getrichslowly.org/blog/2009/06/01/the-personal-finance-hour-episode-10-finding-financial-advisors/comment-page-1/#comment-183449 Kristin Harad Wed, 10 Jun 2009 19:42:24 +0000 http://www.getrichslowly.org/blog/?p=4377#comment-183449 It is very important to find a financial planner who is a good fit for you and your situation. Personality fit is often an over-looked factor. You want to make sure that you share the same basic philosophies with your planner. For example, if your planner is going to insist that you cut out your lattes each day, but you find them to be a $3 slice of heaven, you may not agree on larger issues either. I'd also say you should try to find a planner who is at about your same life stage so that they have a good understanding of where you are and where you want to be. For instance, I have two young children and my whole practice is geared towards new and expectant parents. I am highly tuned into the challenges that come with a growing family and can closely relate to my clients. On the other hand, I wouldn't take on a client who is nearing retirement, since I don't have as much insight to their goals and worries. It is very important to find a financial planner who is a good fit for you and your situation. Personality fit is often an over-looked factor. You want to make sure that you share the same basic philosophies with your planner. For example, if your planner is going to insist that you cut out your lattes each day, but you find them to be a $3 slice of heaven, you may not agree on larger issues either. I’d also say you should try to find a planner who is at about your same life stage so that they have a good understanding of where you are and where you want to be. For instance, I have two young children and my whole practice is geared towards new and expectant parents. I am highly tuned into the challenges that come with a growing family and can closely relate to my clients. On the other hand, I wouldn’t take on a client who is nearing retirement, since I don’t have as much insight to their goals and worries.

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]]> By: Paul in cAshburn http://www.getrichslowly.org/blog/2009/06/01/the-personal-finance-hour-episode-10-finding-financial-advisors/comment-page-1/#comment-181998 Paul in cAshburn Tue, 02 Jun 2009 13:01:16 +0000 http://www.getrichslowly.org/blog/?p=4377#comment-181998 JD, I'm unable to join live audio feeds, but thought I'd share the following experience related to finding a financial advisor. I decided that in recognition of the possibility of my early demise, I should organize all our financials in a way that my wife could more easily transition to managing her own finances in my absence. (I live for this stuff, but she's ambivalent about optimization strategies - although frugal). I went to the NAPFA (National Association of Personal Financial Advisors) website to find a fee-only advisor. I sent e-mails to four advisors - and didn't get a response from any of them! Are there so many customers vying for a fee-only advisors that advisors don't even respond to new inquiries? I'll wait a few months and try again, but I was shocked that nobody wanted to talk to a potential new customer. (My initial e-mail simply laid out my desire for advice on estate planning and putting together a file for my wife's use.) Does anyone use an advisor that's not in their local area? Why did they choose a distant relationship over a local one (other than "I moved away from an advisor I liked)? JD, I’m unable to join live audio feeds, but thought I’d share the following experience related to finding a financial advisor.
I decided that in recognition of the possibility of my early demise, I should organize all our financials in a way that my wife could more easily transition to managing her own finances in my absence. (I live for this stuff, but she’s ambivalent about optimization strategies – although frugal).
I went to the NAPFA (National Association of Personal Financial Advisors) website to find a fee-only advisor. I sent e-mails to four advisors – and didn’t get a response from any of them!
Are there so many customers vying for a fee-only advisors that advisors don’t even respond to new inquiries? I’ll wait a few months and try again, but I was shocked that nobody wanted to talk to a potential new customer. (My initial e-mail simply laid out my desire for advice on estate planning and putting together a file for my wife’s use.)
Does anyone use an advisor that’s not in their local area? Why did they choose a distant relationship over a local one (other than “I moved away from an advisor I liked)?

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