+6 votes
by (200 points)
Is it worth getting a fiduciary financial planner. Anybody on here have experience working with one?  
Is it worth getting a fiduciary financial planner.

5 Answers

0 votes
by (1.9k points)
I do not. But Tony Robbins in Money Master the Game recommends a fiduciary planner. Make sure their compensation is fixed and not tied to investments they want you to invest in. Hence fiduciary.  
0 votes
by (6.8k points)
I am one. However I don’t charge for it.  
by (6.5k points)
Want to expand a bit on that, @spencer8887?  
by (6.8k points)
@manamanacle441 I provide free money coaching services (budget planning, debt elimination, credit repair, etc. ) to people who purchase or subscribe to particular financial products and tools that I am a reseller of. For those clients, and for accredited investors, I also manage their passive investment accounts, and invest money on their behalf in my actively managed investment account, for free.  
0 votes
by (6.5k points)
One way that I have heard this discussed is that you don't need an advisor if you have the time, ability, and desire to do it yourself. I don't think it takes too much time, I think I have learned enough to understand the process, and I enjoy doing it, so I don't have an advisor. If you come up short with those three, maybe you should look into hiring someone to help you. You can learn a lot if you want to take the time, but then again, folks who really know their stuff can provide value I am sure. I personally have a problem with the AUM model, so I would look at paying by the hour or something similar. Of course, being a fiduciary is a requirement for me.  
0 votes
by (500 points)
We did our first initial visit with one a few months ago. After closing the books on student loans in July, we've spent much of 2019 really ramping up on investment/retirement knowledge, and we plan on going back to that guy as we learn the ins and outs, kinda get our footing more. We want to be hands-on with our money, but like @capri said, it's nice to have someone in your corner. He's fee only, $150/hour and we foresee spending 1-2 hours with him a year, as we build up questions (at least early on). It's comfortable for us, but we don't feel like we NEED to do it; we have a lot of knowledge and interest in all of it, and I'm sure there are plenty of people like that who WOULDN'T feel like it's worth it.  
0 votes
by (390 points)
If you are looking for help, seek out fee-only independent(NOT affiliated with a broker/dealer) advisor. I’ve worked on all sides of finance and there IS a difference!  
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