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Random financial question

Established Member

Random financial question

First, let me say thank you to everyone!!  This forum is a wonderful tool!!  
 
Second, I was curious if anyone knows of a good financial advisor or firm.  One who will not only look at my current investments (i.e. want to take my money and set up addtl accts), but everything including my fico, ways to improve it, etc.  I'd like to sit down with someone, and my husband, and make those necessary plans for the future, but don't want to waste my time with an Ameriprise rep who may not be qualified.
 
I thought perhaps those concerned with improving their fico scores might be in a similar situation and know of someone.  I just want to speak to a qualified individual that can look at everything and tell me what I need to do to ensure I am on track in all financial aspects of my life.  
 
Thanks in advance!
Message 1 of 8
7 REPLIES
Regular Contributor

Re: Random financial question

See if your bank or credit union have any, my CU does and they are free consultations.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
Message 2 of 8
Moderator Emeritus

Re: Random financial question

You are correct, DO NOT PICK AMERIPRISE -- not (necessarily) because of lack of experience, but because of lack of objectivity in their recommendations of funds.  There is a HUGE ($100 million, I think) class action lawsuit against them for steering investors towards funds that generated the biggest commissions for them rather than the best returns for investors.
 
Go with an advisor that is "fee-based" -- you pay an hourly rate or a fee based on your percentage of assets, regardless of what investments you purchase.


Message Edited by masdeocho on 06-06-2007 06:00 PM
-----------------
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Message 3 of 8
Super Contributor

Re: Random financial question

My company has a counseling service available as part of our benefits.  It actually includes financial counseling, and that can be a good place to start


Message Edited by MidnightVoice on 06-06-2007 07:09 PM
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 4 of 8
Regular Contributor

Re: Random financial question

I agree about Amriprise. They were once backed with AMEX but recently there is all kinds of Ho Ha about them.
Message 5 of 8
Established Member

Re: Random financial question

I never thought about contacting my credit union.  I'll see if they offer similar services.
 
Masdeocho: Thank you for the heads up about only using fee based advisors.  
 
Message 6 of 8
Established Member

Re: Random financial question

I think you want to speak to a fiduciary (I think that's what they are called) financial planner.  Check out this site:
 
These are fee based planners, which, in my opinion, would be the way to go.  They charge you a fee and make recommendations.  They don't work for someone who wants them to push a certain stock or mutual fund product.
Message 7 of 8
Established Member

Re: Random financial question

Fraz: Thank you so much.  That is a wonderful website!  I was able to enter my zip code and find people close to me.  And the best thing of all is that I was able to check a box requesting that those individuals NOT contact me.  That's exactly what I was looking for. 
Message 8 of 8