Author Topic: How to find a financial advisor - no really, I do mean that  (Read 1771 times)

ysette9

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Hi all. I've seen (and asked) the question before on advice for finding a financial advisor. The reply is always some version of "ask here!', and "self-educate, and "it's simple enough that you don't need to pay some over-priced charlatan who will just try to put you into whole life insurance annuity actively-managed fund with back-end and front-end fees with a 1% AUM cherry on top".

Peace, I get it and agree. I've done a tremendous amount of learning over the years of hanging around here with the occasional foray over into Bogleheadsland. What I'm looking for is a financial advisor to review our current plan and check it for any mistakes or omissions. Basically, someone to check my work. This is important to my husband, which means it is important to me. I have some very narrow criteria and don't want to speak to whomever who will plug my numbers into an online calculator. I have read good things about the XY Network and the Garrett Planning Network. Does anyone have recommendations on how to select an advisor from the many listed? Does anyone have specific experience with an advisor who can speak intelligently about the sorts of things I care about below?

  • Retiring in late 30s/early 40s
  • Fully supports my Vanguard passive index fun approach
  • Familiar with research around 4% withdrawal rate rule of thumb
  • Familiar with reverse equity glidepath/"bond tent" to reduce sequence of returns risk

Should I just write up what I am looking for and reach out via email to several random people from these sites?

Rob_bob

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Re: How to find a financial advisor - no really, I do mean that
« Reply #1 on: July 06, 2018, 08:18:32 PM »
This is the website to find a fiduciary financial adviser in your area.

https://www.napfa.org/find-an-advisor#tab=filters

boarder42

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Re: How to find a financial advisor - no really, I do mean that
« Reply #2 on: July 07, 2018, 04:48:11 AM »
Unfortunately I think it's going to be incredibly difficult to find what you're looking for this world we live in the fire world where what you speak of is common place doesn't exist in the financial planning world. Someone did post something similar to this a year ago give or take. And went thru 20 people at xy before finding one that was willing to discuss her plans but had no knowledge of half what that op was looking for in the end I think they concluded it was a waste of time.

Arbitrage

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Re: How to find a financial advisor - no really, I do mean that
« Reply #3 on: July 07, 2018, 09:13:05 AM »
If you're invested in Vanguard funds as you indicate, and meet the $500k threshold to be a Voyager Select client, you can get free consultations with a CFP through Vanguard Financial Services (or fee-based service if you want a more in-depth relationship).  Haven't done it myself, but it might be worth a look - it's free, after all. 

Aside from that, I don't have much experience with what you're asking, but I'd try to find an hourly fee-only adviser who will give your plan a full review over a few hours.  Set you back $500-1000 and put your plan through the wringer, rather than putting your AUM and draining away your retirement.  Sorry, no good advice on where exactly to look!

slappy

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Re: How to find a financial advisor - no really, I do mean that
« Reply #4 on: July 08, 2018, 03:46:52 PM »
Doesn’t the guy from Root of Good offer something like that?

Mattginman

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Re: How to find a financial advisor - no really, I do mean that
« Reply #5 on: July 09, 2018, 11:48:54 AM »
I would recommend talking with my guy (based in Houston, but has clients all over the world). His info is below and Bio is on their site. He's worth having a quick phone convo with at least to see if you like how he thinks. I 100% trust his decisions and they have real fiduciary responsibilities (I mostly use him to get into PE deals that wouldn't normally come across my radar). Let me know if you'd like an intro, otherwise feel free to just drop him a line to chat. Ping me if you want any more background as well. Hope this helps, Matt

MOD NOTE: Information redacted. PM poster if you want the referral.
« Last Edit: July 09, 2018, 04:44:30 PM by arebelspy »

ysette9

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Re: How to find a financial advisor - no really, I do mean that
« Reply #6 on: July 09, 2018, 12:15:55 PM »
Doesn’t the guy from Root of Good offer something like that?
Yes, he does and that is a good point. I had thought of that and then forgot, so thanks for the reminder.

ysette9

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Re: How to find a financial advisor - no really, I do mean that
« Reply #7 on: July 09, 2018, 12:25:02 PM »
Side note: thanks to all for the responses. The delay in my reply is because this $&^*€! Tapatalk app doesn’t freaking put my own topic in my notifications. This app has so many issues it almost isn’t better than viewing the regular web page on my tiny phone screen.

boarder42

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Re: How to find a financial advisor - no really, I do mean that
« Reply #8 on: July 09, 2018, 01:17:53 PM »
so who wants to just spam the shit out of that obvious ad on this page.

ysette9

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Re: How to find a financial advisor - no really, I do mean that
« Reply #9 on: July 09, 2018, 03:55:42 PM »
so who wants to just spam the shit out of that obvious ad on this page.
If that person actually has experience providing the type of advice I am looking for I would be happy for a recommendation of a particular advisor. I didn’t get the sense that this Texas person hit any of the points I am looking for though. I would be happy to be proven wrong.

Zacharias

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Re: How to find a financial advisor - no really, I do mean that
« Reply #10 on: July 10, 2018, 07:48:40 AM »
I do not have individual experience with any advisors. However, I keep up with the XY Planning Network and I like the overall culture of that network. I did a quick search and there are a few that list expertise in early retirement as a specialty.

The Garrett network specializes in only offering a per hour or per project fee and has a good reputation as well. It may be just what you're looking for if you want a single service performed without ongoing management/monitoring of the plan.