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Financial Adviser
Old 04-09-2016, 01:16 PM   #1
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Financial Adviser

What do you look for in a financial adviser?

Financial Adviser

I found this while researching another one that sent an off dinner for two an a nice local eatery with completing their 3 visit financial planning session. It was not this firm.
So take it for what it is. What are your thoughts?
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Old 04-09-2016, 01:28 PM   #2
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Old 04-09-2016, 02:06 PM   #3
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I use the guy who looks back @ me in the mirror.
+1
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Old 04-09-2016, 02:17 PM   #4
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I thought his talk was interesting... that is why I posted it
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Old 04-09-2016, 02:53 PM   #5
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What are your thoughts?
Another snake-oil salesman looking for additional snakes to help sell oil. Promises the new snakes $100k/year but not a word about where that comes from - uh, what about your customer's welfare, A**hat?

Back in the good ol' days he'd get a fair trial and then hung. Or if in a hurry just take 'im out back and shoot.

Those are my thoughts.
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Old 04-09-2016, 02:59 PM   #6
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So it's a recruiting video for financial advisors. He's looking to hire salespeople (i.e. someone who is insurance licensed). I guess if you're looking for a job and you don't mind selling these kinds of products, it's a possibility. There is certainly money to be made with financial product sales... it's just not for me. Walt34, I think A**hat is my new favorite word.
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Old 04-09-2016, 03:00 PM   #7
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Before I saw what anyone else had posted, the first thing that came to me was "I look for the guy in the mirror". So the guy in the video is in the top 1% of advisors for what? Bleeding the retired of their income? I would advise anyone to learn to manage their own money. If a safe WR these days is 3%, an advisor would take 1/3 or more of what you need to live on.
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Old 04-09-2016, 03:00 PM   #8
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What do you look for in a financial adviser?
Non-fiduciary product pushing salesman seeking high commissions. That makes him a snake oil salesman.

100K per year! Where does that money come from? The CLIENTS!
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Old 04-09-2016, 03:10 PM   #9
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I use the guy who looks back @ me in the mirror.
Yep. That's the one.

heh heh heh - Sometime's I reward him by going out for BBQ, Mexican, Thai or 1947 style malt and burger at Winsted's. .
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Old 04-09-2016, 03:19 PM   #10
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Maybe it's me but the guy doesn't even look that polished. Maybe that's part of his shtick. Anyway I'm not even seeing any evidence of a program that adds any value for a prospective FI (salesperson).
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Old 04-09-2016, 03:33 PM   #11
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He's looking for sales people. He probably does the "retirement planning suppers" at the local dining hall. Who knows what he's selling. Long term care insurance? Whole life? Mutual funds?

I don't know and I don't care. Ignorance and apathy are my friends. I don't want to learn either. I'm not looking for a job
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Old 04-09-2016, 03:37 PM   #12
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I'll put on a similar shirt, keep my allocation as is, and go to a different Youtube channel. Maybe watch a few Ronaldo vs. Messi highlight clips...
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Old 04-09-2016, 03:48 PM   #13
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My dream is still to find 20 busy guys with $5 million each to invest. I'll take care of everything for a mere one percent.
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Old 04-09-2016, 03:50 PM   #14
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I thought his talk was interesting... that is why I posted it
So you've got some feedback. Mind telling us just what you found interesting about it?

-ERD50
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Old 04-09-2016, 04:01 PM   #15
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Maybe it's just me, but this pitch struck me as just another Amway variation.
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Old 04-09-2016, 04:39 PM   #16
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So you've got some feedback. Mind telling us just what you found interesting about it?

-ERD50
I looked up this companies ADV and they had a downward stair stepping fee structure base on AUM. If I recall correctly is was 2.5% between 50k to 150k. Steps down from there. No sure if he has a fiduciary responsibility or not as charging a fee does not restrict that in itself.

But I've heard many pitches and some I believe were really were trying to help the client and some had a favorable fee structure. I just can't let go of the management... personality flaw.
This was on a site the encourages sharing. Some of his other videos are more polished and directed to clients or potential clients. But if you were a potential client and saw this, what would you think?
What surprised me was that this was this was with the client directed talks and the site encouraged sharing
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Old 04-09-2016, 04:54 PM   #17
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I am thinking this guy is recruiting new "sales people" so he can charge them for sharing his secret/sacred money making formula. Maybe he has online courses he has put together with one-on-one coaching thrown in for a huge fee or something. If it's not that, then I would think it is some kind of commission based job that he is offering (maybe a pyramid scheme kind of sales where he gets a cut.) I cannot imagine this guy paying even a penny for hiring people. He sounds arrogant. The background music is very, very annoying. Maybe one of you can contact him as a potential new sales person and find out LOL.

NOTE: I posted the comment above before having read everyone else's comments...
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Old 04-09-2016, 04:59 PM   #18
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Originally Posted by bingybear View Post
I looked up this companies ADV and they had a downward stair stepping fee structure base on AUM. If I recall correctly is was 2.5% between 50k to 150k. Steps down from there. No sure if he has a fiduciary responsibility or not as charging a fee does not restrict that in itself.

But I've heard many pitches and some I believe were really were trying to help the client and some had a favorable fee structure. I just can't let go of the management... personality flaw.
This was on a site the encourages sharing. Some of his other videos are more polished and directed to clients or potential clients. But if you were a potential client and saw this, what would you think?
What surprised me was that this was this was with the client directed talks and the site encouraged sharing
For you and I, the pitch appears to be an unpolished one. For new clients to be fished, it will work. People who are looking for employment, and do not have job skillset, are likely to fall prey to this.
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Old 04-09-2016, 05:30 PM   #19
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I will repeat something I've read before. There are a few good financial advisers, but only a few. Most are only good at separating you from your money. It is hard to find those rare few that are worth their fees. The problem is, by the time you are financially literate enough to determine the difference, you're smart enough not to need one.
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Old 04-09-2016, 05:57 PM   #20
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My thoughts -
He claims to be in the top 6% nationally. Measured how? Is it based on AUM figures? ROI figures? Fees extracted from customers / AUM? Without an explanation - it doesn't mean anything. If he extracts a higher percentage of fees from customers - that's a big YIKES.

He was pitching to sales people.

His background piano music was distracting.

Those are my thoughts.
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