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Northshore financial advisor recommendation
Posted on 7/23/24 at 2:28 pm
Posted on 7/23/24 at 2:28 pm
Looking for a financial advisor on the Northshore to help out some friends. They have had some struggles recently and have significant credit card debt. They need someone to review their situation and help them come up with a plan to move forward.
3
Posted on 7/23/24 at 3:30 pm to DownSouthDave
Bruce Shields & Associates, LLC
Posted on 7/23/24 at 3:37 pm to DownSouthDave
I know you're trying to help, but not many FA's want to do this type of work. Generally it means quite some time before this can end up being a paying client and that means they are doing work for free. Not that they mind helping, but it's not really a good referral. And these referrals tend to be the ones who ask the most questions because they haven't started much yet.
Have them list every debt amount, interest rate, and minimum payment, and a column for notes if necessary, preferably in an Excel or Google sheet. Then have them do a monthly budget in the same way. A *realistic* budget, not something on a napkin where they've forgotten they need to eat every day.
From there, post it here and we'll tell them what we think.
Have them list every debt amount, interest rate, and minimum payment, and a column for notes if necessary, preferably in an Excel or Google sheet. Then have them do a monthly budget in the same way. A *realistic* budget, not something on a napkin where they've forgotten they need to eat every day.
From there, post it here and we'll tell them what we think.
Posted on 7/23/24 at 3:56 pm to UpstairsComputer
Thank you for the reply.
They have a strong income, but there was a client (attorneys) who decided to bring their small company into litigation and it really hurt them financially.
They are in the middle of an acquisition/sale of their company right now and should be able to exit in a few years comfortably.
I don't think payment would be a problem.
They aren't sure if taking out equity against their home is the best solution or if there is another direction they should go...I have no idea what to tell them other than seek the help of a professional.
They have a strong income, but there was a client (attorneys) who decided to bring their small company into litigation and it really hurt them financially.
They are in the middle of an acquisition/sale of their company right now and should be able to exit in a few years comfortably.
I don't think payment would be a problem.
They aren't sure if taking out equity against their home is the best solution or if there is another direction they should go...I have no idea what to tell them other than seek the help of a professional.
Posted on 7/23/24 at 4:12 pm to DownSouthDave
True Wealth Advisors. Billy Maisano
Posted on 7/23/24 at 5:03 pm to Popths
BM is a very good friend of mine ... solid dude
Posted on 7/23/24 at 8:07 pm to DownSouthDave
www.mathewsservices.com/
Posted on 7/23/24 at 10:10 pm to Popths
quote:
True Wealth Advisors. Billy Maisano
+1. We use True Wealth, different advisor though.
Posted on 7/24/24 at 7:05 am to meeple
I’m on the Southshore but use True Wealth advisors as well (different advisor than BM) . I’ve been happy with their work.
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