menu
Posted by
Message
amsterdam
LSU Fan
Boiler Room
Member since Jul 2008
934 posts
Online

re: Got an appointment with financial advisor Thursday.......

quote:

I am 50/50 on financial advisors knowing anything. One terrible, one solid


I work in the industry and far less than 50% of series 6 or 7 financial advisors know anything.

On the other hand a Certified Financial Planner will almost certainly give you competent advice. Only work with someone that has the CFP initials. CFP's generally do not make commissions off of selling products like a broker but instead are generally fee based


Zach
LSU Fan
Member since May 2005
70761 posts

re: Got an appointment with financial advisor Thursday.......
quote:

I'm definitely going to sign anything right away,


I would advise against this.


GoCrazyAuburn
Auburn Fan
Staring up at Vulcan's ass
Member since Feb 2010
17765 posts

re: Got an appointment with financial advisor Thursday.......
Nah, don't worry about it. Just have a seat right over there. Trust me this stuff is good




Replies (0)
Replies (0)
adavis
LSU Fan
Member since Aug 2007
3462 posts

re: Got an appointment with financial advisor Thursday.......
I don't see any reason why you need to meet with a financial advisor for this, especially one offers free analysis. That means they have a product they are going to try to sell you. These guys live off of selling you a product, such as life insurance, or investment products, not by crunching numbers for you. If you insist on getting one, find a CFP-one that charges a fee for advice. Good luck!


Replies (0)
Replies (0)
foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
32186 posts
Online

re: Got an appointment with financial advisor Thursday.......
quote:

a Certified Financial Planner will almost certainly give you competent advice.


I don't know about the "certainly" part but they're better than most. Investment advice isn't rocket science and is something most people can do on their own with a little desire and study, just stick with good asset allocation. But if you need details on succession planning, insurance, that sort of thing you might want to talk with a CFP.

quote:

amsterdam




Replies (0)
Replies (0)
Libertariantiger
LSU Fan
Member since Nov 2012
544 posts

re: Got an appointment with financial advisor Thursday.......
My experience:

We (wife and I) got references and met with a financial advisor that was recommended by peers. He specialized in disability ins. Do u have that now? We got a plan about the point u are at because it is cheaper to get the plan if u are in residency. They lock ur rate for the amount u make now where that amount would be more if u get it after u grad. Then u expand the amount to ur liking after ur new income starts. He also offered life ins, but we got it through the wife's practice instead. Only thing I would watch is amounts. They want to sell u way more coverage then u need sometimes. He also does investments, but the disability stuff is something they all do not specialize or have knowledge in, which is why we chose him.
We also built a home and the physician loan was not a great option. The only real benefit is that they do not count student loans. That keeps some from qualifying from conventional loans. Fir our situation a conventional was better. 3% interest rate closed last month. I looked at the physician loans mainly online bc most mortage brokers didn't deal with them.
Next order of business is finding a good accountant. I think I will be a one percenter staring at standard deduction if I don't do something. Financial adviser helped some, but suggested we talk to an accountant. God damn the amount of taxes u are about to pay. More than most people make!
Edit: I thought of graduating as getting out of residency. May have misread, but may help for future reasons. I had no money to advise while wife was in residency.
This post was edited on 1/17 at 7:48 pm


Replies (0)
Replies (0)
LSUAZ
LSU Fan
Member since Nov 2012
17 posts

re: Got an appointment with financial advisor Thursday.......
#1) Focus on paying off your debt...
#2) Focus on #1
#3) Keep your expenses low
#4) Only if you absolutely need a loan/home etc
#5) Focus on your debt as in getting out of it...
LOL there is 15 years of Financial Advisor practice.....Good Luck!!


Replies (0)
Replies (0)
first pageprev pagePage 2 of 2next pagelast page
refresh

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram