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re: Hiring a financial adviser............Updated
Posted on 12/6/12 at 11:07 pm to BestBanker
Posted on 12/6/12 at 11:07 pm to BestBanker
Went today to meet with a guy a friend recommended and was completely disappointed. As soon as we sat down the guy started trying to peddle his funds. Several times throughout the hour and twenty minutes I mentioned to him that we just really want someone at this point to manage our 401k's and to make sure we are making wise decisions as to where we are putting our money. Finally we got to a point where he briefly discussed our 401ks, then started back on the funds and at the end basically told us that we need to put a chunk of our savings with him (2/3). I understand that he sells product, but at no point did we discuss our risk tolerance, etc.
I'm not sure why he didn't tell us this upfront, I was pretty straight forward in my e-mail to him what I expected and how we wanted him to work on a fee basis. Then even after explaining the fee situation, he just kept going with his sphiel.
I'm not sure why he didn't tell us this upfront, I was pretty straight forward in my e-mail to him what I expected and how we wanted him to work on a fee basis. Then even after explaining the fee situation, he just kept going with his sphiel.
Posted on 12/7/12 at 1:16 am to TJG210
Run. Look for a fee based only advisor that listens and you get a long with. Preferably, a CFP.
Posted on 12/7/12 at 3:34 pm to TJG210
Wow. Interesting but not totally shocking. Sounds like he may not even be able to do fee for service type business. Keep looking. I assume you are in New Orleans and I have absolutely no connections or recommendations there.
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