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January 07, 2009 04:50 AM

How does a person find a good financial advisor that won't just recommend products with high commissions?

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January 07, 2009 06:40 AM
Find a financial advisor that makes a percentage of what you make - this has been the changing model behind ultra high net worth wealth management for the past few years to combat the issue of portfolio favoritism.

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January 07, 2009 04:00 PM - Fact Refuted
No, that would promote the behavior he's looking to avoid. He wants a flat-rate advisor.

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January 07, 2009 03:09 PM
I've been an assistant to a financial planner for 12 years. Actually today is my 12th anniversary working for him, but that is another (sad) story. What I've noticed working with him and with other advisors, is to watch out for the "sales" guys. If you feel like you're being sold a product, then you probably are. One guy I've worked with actually comes off as your stereotypical, greasy, used car salesman and he does pretty good. I don't know how easy you can detect a salesman, but if you get that vibe from them, then I'd recommend to stay away.

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January 07, 2009 04:04 PM
Both commission-based and fee only financial planners are looking to make money from providing you a service. No matter which kind you choose, you'll have to make a personal determination as to whether they're taking your best interests in mind. Certainly you should interview several and get second opinions if you're not sure. I find bankrate.com to be a good source for information.
Source(s):
http://www.napfa.org/
http://www.bankrate.com/brm/CFP/CFPSearchPage.aspx


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January 08, 2009 04:10 AM
Are you looking for someone to prepare a financial plan for you?http://www.fpaforfinancialplanning.org/fpa4fp/customapps/search.cfm

-OR-
Are you looking for an investment advisor, who manages your portfolio and will act as fiduciary on your behalf:
http://www.memberservicecenter.org/irmweb/wc.dll/pasewcfs?id=pasewcfs&doc=rol/rol1/advanced
Source(s):
Financial Planning Association
Fi360


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