Just went through the FP process with a big-name brokerage firm. Price was $1100 plus $200/hr for unusually complex circumstances. Our plan was covered by base rate & seemed quite reasonable. Even offered alternative scenarios (inc Monte Carlo analyses) for a few diff AA's based upon their firm's anticipated rates of long-term return of various investment classes (US lg cap growth, value, emerg mkts, bonds (muni & corp), Treasuries, etc.). FWIW- This firm had recently DEcreased its rec SWR to 3.5 from 4% for ER's. Honestly felt the process was not just finance but about personal re-eval of overall life circumstances (e.g. wills, ER life style choices (travel ,etc.), family issues, ER life goals, etc). Although I got a few tips, most of the financial stuff (AA's, etc) was old hat.
I have always been interested in investing & feel comfortable making my own AA's. After all, NO ONE knows what the future holds and each individual (NOT the FP) must live with consequences of financial decisions. Still recall late 1980's when most of the big name (well-respected) financial guru's were pushing heavy investment in Japan. That "best advice" turned out so badly. Nikkei Dec '89 @ 38,000, now over two decades later its still under 9,000. Fortunately-even as young adult I followed my own path & stuck with selected US utilities, value lg cap US mutual funds, & at least 6-12mo living expenses in cash. Cannot help but think about those late 1980's ER's who drank that Kool-Aid back then & then had to return to w*rk doing whatever they could find. Who knows what similar investment pitfalls lurk in today's world??
I have always been interested in investing & feel comfortable making my own AA's. After all, NO ONE knows what the future holds and each individual (NOT the FP) must live with consequences of financial decisions. Still recall late 1980's when most of the big name (well-respected) financial guru's were pushing heavy investment in Japan. That "best advice" turned out so badly. Nikkei Dec '89 @ 38,000, now over two decades later its still under 9,000. Fortunately-even as young adult I followed my own path & stuck with selected US utilities, value lg cap US mutual funds, & at least 6-12mo living expenses in cash. Cannot help but think about those late 1980's ER's who drank that Kool-Aid back then & then had to return to w*rk doing whatever they could find. Who knows what similar investment pitfalls lurk in today's world??