Performance is trumped by expenses

[Rich_by_the_Bay]

I refer most of my junior colleagues who ask to a fee-based FA for the same reasons. Smart as they are, they just have trouble sorting out their priorities, and they are swarmed with insurance-selling "financial advisors" and the like.

But I also tell them to get smart about this issue, to stuff their 403b, and not to wait unti after their kids are out of college to start saving.

[JustCurious]

Quote:

Originally Posted by Rich_in_Tampa I refer most of my junior colleagues who ask to a fee-based FA for the same reasons.

I think you mean "fee-only." "Fee-based" is an intentionally deceptive phrase used by some financial advisors who want to deceive people into thinking they are "fee only."

Home Page - NAPFA - The National Association of Personal Financial Advisors

[Alan]

I think that most folks need a FA, they just don't have the ability to do it themselves, unfortunately there are large numbers of sharks who will will eat them alive.

[FinanceDude]

Quote:

Originally Posted by JustCurious I think you mean "fee-only." "Fee-based" is an intentionally deceptive phrase used by some financial advisors who want to deceive people into thinking they are "fee only."

How do you know this??

[JustCurious]

Based upon common sense. See the financial planning "name game" described in this article....

http://www.infoplease.com/ipa/A0193039.html