What is the best place to search for hourly fee based financial planners / investment advisors?

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1. ? said:

   I don’t work for the company but did years ago. But there are other firms beside this one that have the same services offered. My advice is that you take the time to ‘interview’ different places and go with the one that you feel most comfortable with. That is the key, if you aren’t able to relax and open up to someone, move on to the next one. With that being said…
   I would recommend that you find a local Edward Jones Investment office. (They are everywhere around the suburbs of major cities)
   They are great when it comes to people that can help you with the management of ones assets.
   The best part is that they can help you put away money that will help you in the long run. The best part is they don’t have hourly fees. Something the company enforces.
   However, they aren’t the place that you want to go if you wanted to buy stocks. That isn’t their expertise. They may claim to be, but trust me they aren’t-
   Look on the internet for their site, or google Edward Jones Investments. On there you can even look for an office near you.

   August 9th, 2009 at 2:28 am
2. jeff410 said:

   Probably your state regulatory agency website. Then look them up on the brokercheck link at finra.org. You can download their ADVs and look at them.

   August 9th, 2009 at 2:28 am
3. T H said:

   Being a licensed securities professional, I would like to shed some light that could help you with your decision.

   There are straight commissioned based Financial Advisors, investment brokers, registered representatives, etc… that can offer you comprehensive unbiased investment, retirement, short-term, long-term planning services. No Hourly Charges – Free Evaluations.

   Then you have fee based financial advisors, investment brokers, registered reps, etc… that charge you a percentage of the assets under management typically paid out to the investment professional on a quarterly basis. Could be No Hourly Charges, but it depends upon the registered designation of the professional and with their Broker Dealer.

   Financial Planners who are registered investment advisors are allowed to charge for their time which means you still get comprehensive services, but you will most likely pay $1500 to $2000 for the initial planning phase. Typically an Hourly or Flat Fee Cost.

   Regardless of who you choose to do business with, comprehensive planning services have a process that good Financial Professionals follow.

   They gather initial data first which includes all financial statements, your contact information, your goals, risk tolerance, etc… contact information on other professionals you do business with (CPA, Attorney) in order to paint a financial picture of your existing situation, assets, insurance, cash management, etc…

   Then they will perform an analysis of existing financial positions, assets, securities, insurance products, etc… and then formulate a plan based upon your initial discovery phase.

   Investments are selected for you based upon your age, risk tolerance, previous investment experiences, time horizon for retirement, etc… and you want to make sure they are at least INDEPENDENT so they get commissions or paid the same regardless of the product choices/ sponsor companies they select. This is where Insurance Companies, Banks, Wire Houses, etc… can push what is called proprietary products that could pay higher commissions or be designed to keep the assets in house.

   Once you agree with, accept and like the plan set before you- then you simply let the financial professional implement the plan, re-allocate assets if that is actually needed, establish contributions, etc…

   Then they shoud schedule yearly reviews with you to evaluate the existing plan and begin tweaking the plan to attempt to maximize the benefits or make changes because things in your life change.

   It’s quite simple, but make sure they are great Educators so they can simplify any explinations and make you feel comfortable about their services and your Retiement.

   August 9th, 2009 at 2:28 am

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