As a client or potential client, you may regard fee-only financial planners as professionals on a par with attorneys or CPA’s. Yet financial planning is still trying to become a profession. The financial services industry, where financial planning currently resides, includes a broad spectrum of companies and individuals who sell a variety of products, provide […]
Tag Archives | choosing a financial planner
Many people who are financially successful are comparison shoppers. They pore over ratings in consumer magazines, read website reviews, and compare scores of products before buying even everyday products like coffee or toilet bowl cleaner. Yet too many consumers don’t use that same care in choosing an investment advisor to manage their life savings.
A recent article on MSN Money reports there are nearly 176,000 people who call themselves financial advisers. As with any profession, there are plenty of bad apples and weeding through them isn’t easy. After the Bernie Madoff Ponzi-scheme scandal and the latest complaints about Ameriprise Financial (which is accused of investing employees’ 401k’s in underperforming mutual funds), there is good reason […]