[Robbb]

Originally Posted by Gigi3000

I know one in Ohio. She is under the Garret Planning network and came highly recommended. She gave me exactly what i asked for. She does phone consults. Lemme know if you would like her info. She is a fiduciary. I investigated all this last year. I'll go ahead and put her name here as i may not be online for a few days. Its Som Hanvanich in Kettering Ohio.

Tks

[Caymus]

I notice a Garrett advisor that quotes a rate of $300/hr for the first two hours. I have no idea if that is a "fair" price.

[retiredguy123]

Originally Posted by Caymus

I notice a Garrett advisor that quotes a rate of $300/hr for the first two hours. I have no idea if that is a "fair" price.

Way too high

[retiredguy123]

Any financial advice that you pay money for should include a product, such as a written financial plan.

[Caymus]

Originally Posted by retiredguy123

Any financial advice that you pay money for should include a product, such as a written financial plan.

Most of them indicate that they charge a fixed price for a plan. I only noticed one that listed a hourly rate in their profile.

I also assume that "you get what you pay for".

[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.

[retiredguy123]

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.

[petsetc]

My addition to investment advice - take time to read Paul Merriman’s 3 FREE ebooks.
1. First-Time Investor
2. 101 Investment Decisions
3. Get Smart or Get Screwed (read this first!)

Found at paulmerriman.com

Also on his site are recommended portfolios for using Vanguard, Fidelity, T.Rowe Price or Schwab for DYI'ers. Much good info, ignore the puffery and sales pitches.

Also, if you want to know too much about annuities, listen to Stan The Annuity Man® | Brutally Honest Facts About Annuities podcasts.

Podcast - Have Fun With Annuities(R) | The Annuity Man

Last recommendation is FIRECalc: A different kind of retirement calculator , a Monte Carlo simulation of your future.

FWIW

[Robbb]

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.

Keep us posted on your progress. I recently contacted a guy who lives in Illinois on the Ganet (sic) website, I sent him a bunch of financial info and never hear back from him. Moral of the story don't trust them just because they are on a reputable website.

[Gigi3000]

Originally Posted by Boomer

Thank you. She has an impressive and detailed website. From reading through it, it looks like she is the real deal.

I looked for a fee-only advisor several years ago. I finally found one who claimed to be, but he wanted to be paid on a retainer basis. I did not want to do that.

I remember you had a lot of questions a while back. I am glad to know you found an actual fee-only advisor. Looks like they really do exist.

Boomer

Yeah, Som is great. I was nervous going in.

[Robbb]

Originally Posted by Gigi3000

Yeah, Som is great. I was nervous going in.

Unfortunately she can only work in a limited number of states, she said she can't practice in Minnesota.

[Boffin]

Take a look at etf symbol: JAAA
Sell when Fed starts easing.

[Boomer]

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.

Caymus,

fwiw — Sounds to me like you are navigating just fine, as in……

“Leave the rubber chicken. Take the cannoli.”

Boomer

[Caymus]

Originally Posted by Robbb

Keep us posted on your progress. I recently contacted a guy who lives in Illinois on the Ganet (sic) website, I sent him a bunch of financial info and never hear back from him. Moral of the story don't trust them just because they are on a reputable website.

One of the podcasts I listen to had links to advice only flat fee advisors.

Advice-Only Network
Flat Fee Advisors

I haven't investigated them in detail, but they seem to charge about $300/hr on average.

[retiredguy123]

Originally Posted by Robbb

Unfortunately she can only work in a limited number of states, she said she can't practice in Minnesota.

It sounds like she is an insurance agent and/or salesperson. Otherwise, I don't know why she couldn't provide financial advice in any state.