Quote:
Originally Posted by Caymus
As of now, I contacted about 20 advisors (mostly by email). I am considering this a retirement hobby 
Some that were recommended to me or look promising are either not accepting new clients or are only registered in their home states. Most of the others work on an AUM structure, which I don't want. A few want monthly retainers or other type of commitments. The hourly fee types are quoting $200 to $300/hr
So far, I have found three that will develop one-time financial plans with a range of $1,000 to $3,800. The lower cost one "hedges" when I question if they are a fiduciary. I assume they are quoting a lower price and will eventually try to sell me higher cost "investments".
The other two are fiduciaries and have shared sample plans which appear to meet my current needs. The middle one quoted $1,800 and I am obtaining more details from them.
So far, I haven't had a "rubber chicken: dinner.  |
Any advisor who claims to be a fiduciary, should send you a letter stating it in writing, including any conditions or limitations that may apply.