Seeking help of a financial advisor???
my wife and I are meeting with a financial advisor to get everything where it needs to be as far as preparing for retirement, children's education, etc. The company we are going to is Ameriprise...does anyone know anything about them? I've heard of them but I do not know anything else. Anyone had any positive or negative encounters with advisors from any company?
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I would go with Dave Ramsey's ELP (endorsed local provider) if one is available in your area. He is a talk show host who provides financial help on the air.
I personally have not used one so it is just my opinion. Daveramsey.com might get you to his site. I have not searched for it in ages since I have not needed the service. Tom
PS Let us knowyour outcome. Tom0 -
I have an Uncle who owns an Ameriprise franchise and I talked with him extensively before I entered the business. My take is that they are fine. Their product line is a little limited but not too bad. The most important part is the individual advisor not who they work for. 0 -
I agree with Tom. Stay away from the large investment Corps.
Also, I would meet with three consultants in an effort to establish a popular consensus. Do your own research as well. For the most part I would look for diversity and low risk, long term investments.0 -
Ameriprise was a spinoff from American Express. Before that they were well-regarded Investors Diversified. They had one regulatory issue about 10 years ago for customer advise issues.
You will save money at TRowe Price, Vanguard, or Fidelity because they are essentially non-commission oriented.
Your ex Finance Prof and Wall Street software guy.0 -
Just go in knowing that most "financial advisors" are primarily salesmen for financial products from various sources. Most are NOT unbiased. 0 -
I give another vote for Vanguard, but it depends on what amount you have to invest.
If it is sizeable, they will take care of all the advice for free, if you are not self-oriented.
I have my IRA, and Roth IRA funds in Vanguard, and use Ameritrade for my stock holdings.
Another firm for callable CD's, and Muni's.
If you are not individually motivated then the money you will pay may be worthwhile, but they are not financial "magicians", by any means.0 -
For the long term aspect of your investments you may want to take a look at Allianz.
www.allianz.com0 -
My favorite mutual fund company.
https://www.americanfunds.com/0 -
quote:Originally posted by glabray
Just go in knowing that most "financial advisors" are primarily salesmen for financial products from various sources. Most are NOT unbiased.
This is the exact reason I am my own financial advisor... I have seen too many people screwed by advisors dumping junk products on people just to sweeten their own salaries a little. Remember the advisor will get his fees whether your investments make or lose money.0 -
quote:Originally posted by ladams
quote:Originally posted by glabray
Just go in knowing that most "financial advisors" are primarily salesmen for financial products from various sources. Most are NOT unbiased.
This is the exact reason I am my own financial advisor... I have seen too many people screwed by advisors dumping junk products on people just to sweeten their own salaries a little. Remember the advisor will get his fees whether your investments make or lose money.
We just don't have the time to invest in all of this right now. We were looking to use an advisor for maybe a year to get us down the right road and then go from there. The good thing with them is that if we are not happy with them by the end of the year we get our $400 back. We have a say as to where our money goes, they don;t make the decisions. I can also consult with my borther on some things but he does not have the time to sit with us and get it done.0 -
Registrered,Class 3 Weapons/Machineguns
IF allowed in your area.
They are expensive 3,000 up for used MAC10's.
Better nice, exotics like a NIB M16's $15k up, MP5's $13k-$30k.
Example, In the late 70's, When RPB went bankrupt.
MAC10's sold as low as for $5, for 100 completed NIB guns/pallet lots only. Now,$3,000+
Also prior to 1986, you could still buy HK21's for $2,800, M16's $800.
Nobody wanted them, same BS that "They will be outlawed".
The Clintons & 1994 AWB had Elmer's shaking & scared to death,
While a few others became overnight millionaires, on their orginal $10k the-$20k investment in their collections.
I did not have the $ back,in the 60's-70, busy rasing kids.
gh o
Started to invest/collect small time in mid-70's.
Most have apprecated at least %400 to a high of $9,500 on a
Fleming Sear, that was bought from Bill for $225.
Think Investment, 401k, IRA, etc...get a inexpensivse one, with your $. Keep it 2-5 years and double your $ if more.
Then at least you can play with your $, instead of some Wall St kid driving that new Porsche, bought with your investment.
Danglaptop KB!!!!0 -
quote:Originally posted by ladams
quote:Originally posted by glabray
Just go in knowing that most "financial advisors" are primarily salesmen for financial products from various sources. Most are NOT unbiased.
This is the exact reason I am my own financial advisor... I have seen too many people screwed by advisors dumping junk products on people just to sweeten their own salaries a little. Remember the advisor will get his fees whether your investments make or lose money.
This is the exact reason I became a Financial Advisor. The one I had for 10 years was horrible so I started shopping around and found that the financial service market is filled with used car salesman and crooks and I figured I could be successful with a different approach. Three years in and so far so good.0 -
I'm still in the training and education phase. But very much looking forward to getting my feet wet. 0
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