What do you think about such a financial planner?

[LA Reader]

Am I the only one who thinks financial planners are complete waste of money?

I mean hasn’t it been proven that most “planners” & “fund managers” can’t beat Index funds long term?

The only reason I can think of to use Financial planner is for estate planning and advance tax planning.

[Raybyrnes]

I think the comment about Financial Planners being a complete waste is rubbish. You are using a pretty big brush and are assuming people are all good money managers themselves. If everyone was so smart with their money why are so many smart people losing their homes. Sometimes it helps to have a neutral 3rd party who does not have emotions involved with the management of your money.

Good managers hire better people to surround themselves. The key is to identify a criteria list for hiring a manager. Start with education. Good school + Law degree, CPA, CFP, or CFA might be one hurdle. Next might be firm reputation and his tenure with that firm. etc

A good book to read is “Why Smart People Make Big Money Mistakes” It is not about financial advisors but rather human behavior. There are a lot of AH Ha moments that you may be able to identify with.

This is not to say you need a financial advisor or the fact that you left feeling pissed or uncomforable at a very minimum demonstrates some weakness in his sales tactic. But I would say that if you are going to an advisor and then saying I want to sample your work so here is 25k something is lost in translation.
t

[Raybyrnes]

I think the comment about Financial Planners being a complete waste is rubbish. You are using a pretty big brush and are assuming people are all good money managers themselves. If everyone was so smart with their money why are so many smart people losing their homes. Sometimes it helps to have a neutral 3rd party who does not have emotions involved with the management of your money.

Good managers hire better people to surround themselves. The key is to identify a criteria list for hiring a manager. Start with education. Good school + Law degree, CPA, CFP, or CFA might be one hurdle. Next might be firm reputation and his tenure with that firm. etc

A good book to read is “Why Smart People Make Big Money Mistakes” It is not about financial advisors but rather human behavior. There are a lot of AH Ha moments that you may be able to identify with.

This is not to say you need a financial advisor or the fact that you left feeling pissed or uncomforable at a very minimum demonstrates some weakness in his sales tactic. But I would say that if you are going to an advisor and then saying I want to sample your work so here is 25k something is lost in translation.
t

[Raybyrnes]

I think the comment about Financial Planners being a complete waste is rubbish. You are using a pretty big brush and are assuming people are all good money managers themselves. If everyone was so smart with their money why are so many smart people losing their homes. Sometimes it helps to have a neutral 3rd party who does not have emotions involved with the management of your money.

Good managers hire better people to surround themselves. The key is to identify a criteria list for hiring a manager. Start with education. Good school + Law degree, CPA, CFP, or CFA might be one hurdle. Next might be firm reputation and his tenure with that firm. etc

A good book to read is “Why Smart People Make Big Money Mistakes” It is not about financial advisors but rather human behavior. There are a lot of AH Ha moments that you may be able to identify with.

This is not to say you need a financial advisor or the fact that you left feeling pissed or uncomforable at a very minimum demonstrates some weakness in his sales tactic. But I would say that if you are going to an advisor and then saying I want to sample your work so here is 25k something is lost in translation.
t

[Raybyrnes]

I think the comment about Financial Planners being a complete waste is rubbish. You are using a pretty big brush and are assuming people are all good money managers themselves. If everyone was so smart with their money why are so many smart people losing their homes. Sometimes it helps to have a neutral 3rd party who does not have emotions involved with the management of your money.

Good managers hire better people to surround themselves. The key is to identify a criteria list for hiring a manager. Start with education. Good school + Law degree, CPA, CFP, or CFA might be one hurdle. Next might be firm reputation and his tenure with that firm. etc

A good book to read is “Why Smart People Make Big Money Mistakes” It is not about financial advisors but rather human behavior. There are a lot of AH Ha moments that you may be able to identify with.

This is not to say you need a financial advisor or the fact that you left feeling pissed or uncomforable at a very minimum demonstrates some weakness in his sales tactic. But I would say that if you are going to an advisor and then saying I want to sample your work so here is 25k something is lost in translation.
t

[Raybyrnes]

I think the comment about Financial Planners being a complete waste is rubbish. You are using a pretty big brush and are assuming people are all good money managers themselves. If everyone was so smart with their money why are so many smart people losing their homes. Sometimes it helps to have a neutral 3rd party who does not have emotions involved with the management of your money.

Good managers hire better people to surround themselves. The key is to identify a criteria list for hiring a manager. Start with education. Good school + Law degree, CPA, CFP, or CFA might be one hurdle. Next might be firm reputation and his tenure with that firm. etc

A good book to read is “Why Smart People Make Big Money Mistakes” It is not about financial advisors but rather human behavior. There are a lot of AH Ha moments that you may be able to identify with.

This is not to say you need a financial advisor or the fact that you left feeling pissed or uncomforable at a very minimum demonstrates some weakness in his sales tactic. But I would say that if you are going to an advisor and then saying I want to sample your work so here is 25k something is lost in translation.
t

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