Join Early Retirement Today
Thread Tools Display Modes
Financial advisors
Old 01-22-2006, 10:50 PM   #1
Recycles dryer sheets
Join Date: Feb 2005
Posts: 260
Financial advisors

I was wondering how many folks use financial advisors. I'm especially interested about those who have smaller amounts of money saved (comparatively speaking). I do have an advisor through a well known company. I wonder how these guys rate compared to other companies, and if this is even necessary (to have an advisor).

Back when I started to save, I went to an advisor and he really helped me. Back then, I had basically nothing saved and more than anything else - going to the advisor sort of made me accountable to someone else for how I was saving. I mean to say, we made agreements, about my budget, how much I would save, how the money would be invested, etc., so I felt that I needed to hold up my end of the deal in order to achieve the goal - and it really worked out great.

Now, I'm not so sure I need an advisor. Most of my funds these days are loaded, Class A - and because they are Class A - now it will be hard to get out of them, unless I start all over somewhere else, and move the money later.

Any thoughts or advice?
virginia is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Financial advisors
Old 01-23-2006, 08:23 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 49,949
Re: Financial advisors


In general, posters on this forum have a "do it yourself" mindset when it comes to managing investments. This thread may help in understanding why that's the case:

Numbers is hard
REWahoo is offline   Reply With Quote
Re: Financial advisors
Old 01-23-2006, 08:24 AM   #3
Recycles dryer sheets
Join Date: Oct 2004
Posts: 408
Re: Financial advisors


Benn there done that with the advisor thing. My first advisor was a peach. We didn't have much back then and he seemed pretty honest. In hind sight he really was honest. Fast forward several years and a great deal more money to my very nasty experience with a financial planner. It was not pretty but it was a great learning experience. There are some great books to read and lots of good advise here that may help you to get comfortable enough to try it on your own.

In regards to your loaded class A shares. You've already paid the load so getting out of them shouldn't cost you anything. HOWEVER, if they are in a taxable account you might have cap gains tax to consider. If you transfer them over to a discount broker you might be able to do a direct transfer and keep the funds. Ususally loaded frunds though have higher expense ratios than no load funds so you might want to keep that in mind. Expenses do make a big difference on the bottom line.

Good luck,
LovesLife is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
2 financial advisors' plans for my MIL - need some better advice WM FIRE and Money 9 05-15-2007 01:56 PM
Experiences with financial advisors LOL! FIRE and Money 5 02-04-2006 03:03 PM
Scott Burns answers financial advisor's Vanguard questions Nords FIRE and Money 19 12-04-2005 12:11 AM
Financial advisors: "We're here for you!" Nords FIRE and Money 20 09-20-2005 10:12 AM

» Quick Links

All times are GMT -6. The time now is 08:27 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.