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Message
Financial Advisor Hammond Area
Posted on 1/2/24 at 8:21 pm
Posted on 1/2/24 at 8:21 pm
Interested in meeting with a financial advisor for the first time in my life. Any recommendations on who to see in the Hammond area? A quick google search shows several in the area, not sure who to go chat with.
Thanks in advance.
Thanks in advance.
Posted on 1/2/24 at 9:27 pm to lildaddy86
Avoid anyone trying to sell whole life insurance, loaded funds, or charging % of assets under management. Even a 1% fee can cost you something like 28% of accumulated balance over 30 years.
The only way I'll use a financial advisor is if they charge a fee only (but not AUM) and are a fiduciary. XY Planning Network and FeeOnly Network provide a place to find fee only local advisors. I've searched them but havent pulled the trigger yet myself.
The only way I'll use a financial advisor is if they charge a fee only (but not AUM) and are a fiduciary. XY Planning Network and FeeOnly Network provide a place to find fee only local advisors. I've searched them but havent pulled the trigger yet myself.
Posted on 1/3/24 at 1:15 pm to lildaddy86
True Wealth Advisors. Deal with Billy Maisano. Thank me later.
Posted on 1/3/24 at 2:55 pm to lildaddy86
Just buy Jordan Belfort’s book, baw.
Posted on 1/3/24 at 7:26 pm to lildaddy86
Every time I talk to them they just pitch loaded mutual funds and don't understand why I ever did it. Spent like 5 year with a guy doing American Funds and holy shite. It was like 5+%.
Now I just manage my own in single stocks and cheap mutual funds on Vanguard and Fidelity.
Now I just manage my own in single stocks and cheap mutual funds on Vanguard and Fidelity.
Posted on 1/3/24 at 9:10 pm to Billy Blanks
quote:
they just pitch loaded mutual funds
quote:
Spent like 5 year with a guy doing American Funds and holy shite. It was like 5+%.
sounds like edward jones
Posted on 1/3/24 at 10:34 pm to lildaddy86
Ask your peers in the area for recommendations.
Unfortunately, this board is not a great place to find good advisor referrals - and for good reason. The subset of people that post here and also use a financial advisor of some type is incredibly low - money forums are mostly do-it-yourselfers, so most on here don’t use an advisor at all. Also, the majority of “I use so and so and they’re great” posts are probably coming from that advisor himself or one of their family members.
Best thing you can do is ask people you respect within your network. You’ll get a few names, and you can and should visit with a few to find a good fit.
Unfortunately, this board is not a great place to find good advisor referrals - and for good reason. The subset of people that post here and also use a financial advisor of some type is incredibly low - money forums are mostly do-it-yourselfers, so most on here don’t use an advisor at all. Also, the majority of “I use so and so and they’re great” posts are probably coming from that advisor himself or one of their family members.
Best thing you can do is ask people you respect within your network. You’ll get a few names, and you can and should visit with a few to find a good fit.
This post was edited on 1/3/24 at 10:34 pm
Posted on 1/3/24 at 10:49 pm to slackster
My clown didn't know the income cap on ROTH's. I was floored.
Posted on 1/4/24 at 10:21 am to Billy Blanks
quote:
My clown didn't know the income cap on ROTH's. I was floored.
I can believe it. There are shitty financial advisors out there, just like any other field.
Posted on 1/4/24 at 11:27 am to Billy Blanks
quote:
My clown didn't know the income cap on ROTH's. I was floored.
leave SLACKSTER ALONE!!!!!!
Posted on 1/4/24 at 1:19 pm to slackster
had to take a jab at ya man
Posted on 1/6/24 at 8:51 am to lildaddy86
Read a book like simple path to wealth by JL Collins or something similar before meeting with financial advisors. Definitely avoid high fee advisors.
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