Do you have a financial adviser?

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This topic contains 5 replies, has 4 voices, and was last updated by  Carla Dearing – Sum180 Founder 2 years, 8 months ago.

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  • #2669 Reply

    Hi all,

    I started a little late on the on saving for my retirement but nothing too crazy. I missed out on probably 2 years due to switching jobs and eligibility with employers but the good things is that I’ve been saving consistently ever since. My 401k is matched by my employer and my previous one was as well. I saw a financial retirement counselor who said I could be a little more aggressive with the accounts that I have set up for retirement. He is not a financial adviser but I was thinking of working with one to further the conversation I had with the counselor.

    What are your thoughts on working with an adviser and do you have one you’ve consistently worked with?

    #2731 Reply

    I do have one that I use for a portion of my retirement funds. I also self-manage another portion. Personally, I love being able manage some of my own investments, but the thought of managing it all stresses me out. However, we both get about the same annual returns.

    #2738 Reply

    I have a financial advisor who is an employee of an investment firm. I was told to steer away from an advisor who isn’t 100% independent. Does anyone have a position on this point of view?

    #2741 Reply

    Hi Suzanne,

    I’ve never heard of choosing an advisor that isn’t 100% independent. I wonder why that would be a bad thing.

    #2742 Reply

    Yes, I would worry about the stress. I have too many things going on to make sure that I stay on top of my retirement accounts.

    #2750 Reply

    I think that recommendation was given, Suzanne, with the thought that your BEST chance of getting someone who puts your interests first as a client is someone who is 100% independent. We would agree with that, especially for those just getting started. However, it is possible that an adviser that is affiliated with a financial service firm will do that, but it isn’t a given.

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