Do you use a financial planner?

[nyc999]

Wondering how many people use financial planners, and their perceptions of how they perform (I'm in the beginning stages of finding one):

[krishan]

I use to and when I knew very little I think it was pretty useful. I've learned enough that I'm comfortable where I'm at now but I can see myself using a financial planner in the future when I need an education on different subjects.

Krishan

[DcifrThs]

"financial panther, hmmm??"



Banker: "Mr. Simpson your bills are late again!"

Homer: "GET HIM SIMBA!"

[gull]

I don't use one, but I think they can be extremely valuable, provided of course that you can find an extremely valuable one.

[SlowHabit]

It's probably best to learn a few things about finance so that when you're looking for a "financial planner," you know you're not getting scammed.

[gull]

Or, alternatively, you can ask some knowledgable people if your financial advisor is good, or if they know one who is.

[kimchi]

Only if they're paid for their time and not on commisions.

My father is a retired financial planner and was honest and respected by his clients. He never followed his own advice as ties and regulations prevented his clients from getting the best products - even if they did get a good service.

Unless you know nothing about personal finance, I'd suggest you do everything yourself as you probably know just as much as them anyway... and you can save a packet in the long run.

[snowbank]

hellz no

[maxtower]

You should be paying an hourly rate, not a commission if you do decide to use one.

In almost all cases they can not beat the market for you.

[gull]

Financial planners do not neccessarily try to beat the market. Many add value mainly by matching their client's risk tolerance to a portfolio, managing that portfolio, and also sometimes by providing access to DFA funds, which are superior to Vanguard's in many respects. So many people in the real world make terrible investing decisions. A financial advisor who knows the ins and outs can really help them out.