Opinions of free consultation and financial plan offered by Vanguard Flagship

[NatureNut]

Hi all,

I was wondering if anyone had tried the free consultation with a Certified Financial Planner and/or the free Vanguard Financial Plan that Vanguard offers to Flagship customers.

I know the board generally is not a fan of financial planners since we can do it well ourselves, but I thought I would ask. I am hoping it would be better than the average CFP since it is Vanguard and that it would not be a waste of time.

Thanks!
- NatureNut

 

[Achiever51]

I've gone thru the process 2 times and found it valuable to double check my own assumptions. I've been happy with the results both times; you fill out a questionnaire, VG prepares a proposed plan and you schedule a time to meet on the phone with the VG CFP. They set aside an hour or so for your consultation, but you're not rushed. If you have further questions or wish to go another direction, they'll adjust the plan and you can talk again.

Bear in mind that although they are CFPs, the products they'll be recommending are Vanguard's.

BTW, welcome to the Board.

 

[LOL!]

If you use the Search function you will find more opinions. Also search at the Diehards forum: Bogleheads Investing Advice and Info. Search terms to use are "cookie cutter" and "Vanguard plan" as in: "Vanguard plan" site:www.diehards.org - Google Search

 

[bbbamI]

I haven't used Vanguard, but have used Fidelity. I was impressed with the information they gave me. I'm always open to (free) options, and I think it's worth a shot.

 

[Alan]

I've done it a couple of times and it was just fine. It's free, why don't you try it, at least it gets you thinking, and the advice is just what it is - advice - no commitments necessary

 

[chinaco]

We have not used VG... but used the services where DW works. He made a couple of comments that were helpful... but nothing earth shattering.

Where the planner and I had a difference of opinion was using indexed funds versus actively managed funds. He felt we could do better than the index. He cited a couple of examples. Of course I cited a few alternative examples.

I found that the advice is fairly generic. If you believe in modern portfolio theory and efficient markets... you will agree with the general advice (provided they are not trying to sell you something).

 

[RunningBum]

I did it once and will do it again. As others said, it's a sanity check on your portfolio. The guy made suggestions that made sense to me, and didn't push anything. I expected at the end he'd be asking if he could connect me to someone to make the proposed changes, and he didn't. He also listened to my questions and answered them very well.

 

[Moemg]

I used it twice and they've been very helpful . Answered all my questions and made a few good suggestions .

 

[Bestwifeever]

I would (and probably will) definitely use it. We will roll over our 401(k) to Vanguard on retirement. Right now we have 12 funds to choose from, all Vanguard or Fidelity, and we have a very conservative AA right now partly as a result. We will appreciate the discussion and advice but will not feel obliged to follow recommendations.

 

[walkinwood]

Good sanity check but focuses on asset allocation. They give you a sustainable withdrawal number too.

They do not give you any input into other important aspects of a financial plan - estate planning, insurance needs, tax planning etc.

If you set your expectations accordingly, you'll probably be happy with the report.

 

[NatureNut]

Thanks for the info everyone!