Arc
Recycles dryer sheets
- Joined
- Sep 3, 2006
- Messages
- 372
Any thoughts on the quality of a financial review with Vanguard. Father just moved significant $ there? Are they worth talking with?
The big issue with CFP's with mutual fund families is you're not getting unbiased advice like you would with an hourly CFP in your local area. They HAVE to use their own software for fund allocations, but they probably have a "juiced up" version Vanguard gives them access to...
FD, is that also true of CFPs who have access to DFA or other specific families of funds?
I noticed how Scott Burns, Edelman and others whose columns and approaches seem reasonable are nudging their readers toward DFA (not accessible to individuals). It may be a great family of funds, but there goes the objectivity you allude to...
DFA is intriguing. DFA requires you to "qualify" for DFA,and attend their boot camps and ongoing CE.
I suppose a DFA CFP would do nothing but DFA........
DFA has a good track record, but I think it's overhyped to some extent. Much like Vanguard isn't the only choice out there, neither is DFA, stocks, etc..........
Are they worth talking with?
I found it helpful as a second party to bounce my own financial planning ideas off of.
........... The opportunity to get a second opinion on my financial ideas when speaking with the planner for about 30 minutes was the most productive part of the process.
Your father would be wise to consider it, especially if it will cost him nothing but the time involved.