Financial Advisor Review

Closed Thread
Thread Tools
  #1  
Old 03-06-2017, 04:04 PM
5speedpete 5speedpete is offline
Junior Member
Join Date: Nov 2013
Posts: 3
Thanks: 0
Thanked 0 Times in 0 Posts
Default Financial Advisor Review

Has anyone dealt with Steven Van Voorhees from the Ameriprise office on Wedgewood Lane? If so, what are your opinions? Are there any other financial advisors you would recommend?
  #2  
Old 03-06-2017, 07:11 PM
rjm1cc's Avatar
rjm1cc rjm1cc is offline
Soaring Eagle member
Join Date: Apr 2010
Posts: 2,366
Thanks: 237
Thanked 521 Times in 241 Posts
Default

Check the professional qualifications. Look them up and make sure they are not just letters given to anyone.
Look at your expenses.
Go to several companies and compare.
Ask for performance data for current clients.
How much experience? What has his personal investing results been?
  #3  
Old 03-07-2017, 08:12 AM
JoelJohnson JoelJohnson is offline
Veteran member
Join Date: Jun 2012
Location: Lady Lake, FL
Posts: 879
Thanks: 672
Thanked 442 Times in 205 Posts
Default

www.finara.org to check on any financial person.
  #4  
Old 03-07-2017, 08:49 AM
petsetc petsetc is offline
Senior Member
Join Date: Mar 2015
Posts: 320
Thanks: 935
Thanked 205 Times in 87 Posts
Default

I suggest you look at paulmerriman dot com and read his three FREE ebooks as part of making your investment choices.

Books:
Get Smart or Get Screwed
- How to-select the best and get the most from your financial advisor

First Time Investor
- Grow and Protect your Money

101 Investment-Decisions

JMHO
  #5  
Old 03-07-2017, 04:13 PM
JGVillages JGVillages is offline
Gold member
Join Date: May 2014
Location: TV Calumet Grove
Posts: 1,175
Thanks: 66
Thanked 873 Times in 210 Posts
Default

Jayne Wakeman with Edward Jones on 466 by Bonefish Grille. Our Financial Advisor for the last 10 years. She is in the top 3% of 1000's of EJ Advisors. I would highly recommend her.
  #6  
Old 03-07-2017, 04:27 PM
villagetinker's Avatar
villagetinker villagetinker is offline
Sage
Join Date: Sep 2013
Location: Village of Pinellas
Posts: 9,584
Thanks: 2
Thanked 5,996 Times in 2,197 Posts
Default

I have used Ameriprise for several years, but I kept me advisor from up North, and have not used the local office. I have been happy with the experience with Ameriprise.
__________________
Pennsylvania, for 60+ years, most recently, Allentown, now TV.
  #7  
Old 03-10-2017, 12:57 PM
paperclip202 paperclip202 is offline
Junior Member
Join Date: Jan 2013
Location: Village of Poinciana
Posts: 28
Thanks: 0
Thanked 1 Time in 1 Post
Default

If you hire an advisor, I would make them sign this pledge. We work too hard for our money and retirement to be sold stuff we don't need and charged high fees or hidden fees.

Most people think it is ok to pay a 1% fee but in reality, this fee is more like a 20% fee from profits. Let me give you an example.

The gold standard for institutional portfolios is a 60% stock and 40% bond portfolio. Most advisors/ individual investors have a difficult time beating Vanguard index funds after fees.

Vanguard LifeStrategy Moderate Growth (VSMGX) is a 60/40 portfolio. 10 year return is 4.97%. Most advisors can't beat this before their advisor fee. So if you pay a 1% advisor fee, you are paying 20% of your return each year! 1%/5%

Times have changed. Most real, fee only advisors should be charging around .5% to .6% for a $500k portfolio (depending on the scope of work).

Bogle vs. Goliath

How the Bogle Model Beats the Yale Model

Good luck.
Attached Files
File Type: pdf Get your financial advisor to sign this pledge.pdf (349.2 KB, 241 views)
  #8  
Old 03-10-2017, 01:17 PM
tcxr750 tcxr750 is offline
Senior Member
Join Date: May 2014
Location: Cleveland Suburb
Posts: 498
Thanks: 1
Thanked 2 Times in 1 Post
Default

Example. $500,000 portfolio. Withdraw 4% per year=$20,000. Advisor fee 1% per year = $5,000. Bottom line 20% of your annual withdrawal goes to those friendly folks who should be fulfilling their fiduciary responsibilities.
  #9  
Old 03-10-2017, 02:34 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 13,944
Thanks: 2,274
Thanked 13,416 Times in 5,107 Posts
Default

I have never paid a penny to a financial advisor. In my opinion, Vanguard index funds are all that any investor needs. Your financial portfolio is too important to trust it to a financial advisor, many of which are not trustworthy. With a little knowledge, you can do it yourself. It's just not that complicated.
  #10  
Old 03-10-2017, 02:41 PM
pqrstar pqrstar is offline
Senior Member
Join Date: Feb 2008
Posts: 406
Thanks: 0
Thanked 38 Times in 16 Posts
Default

Quote:
Originally Posted by JoelJohnson View Post
www.finara.org to check on any financial person.
That link should be FINRA.org
  #11  
Old 04-27-2017, 11:58 AM
Gflicc2's Avatar
Gflicc2 Gflicc2 is offline
Junior Member
Join Date: Sep 2016
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by 5speedpete View Post
Has anyone dealt with Steven Van Voorhees from the Ameriprise office on Wedgewood Lane? If so, what are your opinions? Are there any other financial advisors you would recommend?
follow up question. Are there any "fee only" financial planning companies in the villages?
  #12  
Old 04-27-2017, 12:24 PM
Gflicc2's Avatar
Gflicc2 Gflicc2 is offline
Junior Member
Join Date: Sep 2016
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Default

this is interesting information. I wish I could do it myself and work with Vanguard, however, my minor experience with Vanguard was not a good one. I look at it this way, if I make enough money with a full service FP, then I am happy. I am not trusting me to invest wisely for the money I worked hard to attain for retirement.
  #13  
Old 04-27-2017, 12:25 PM
Gflicc2's Avatar
Gflicc2 Gflicc2 is offline
Junior Member
Join Date: Sep 2016
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Default

anyone have history with Merrill Lynch in the villages? comments?
  #14  
Old 04-27-2017, 01:22 PM
l2ridehd's Avatar
l2ridehd l2ridehd is offline
Sage
Join Date: Dec 2007
Location: Bridgeport At Miona Shores
Posts: 3,605
Thanks: 1
Thanked 352 Times in 121 Posts
Send a message via AIM to l2ridehd
Default

Quote:
Originally Posted by Gflicc2 View Post
this is interesting information. I wish I could do it myself and work with Vanguard, however, my minor experience with Vanguard was not a good one. I look at it this way, if I make enough money with a full service FP, then I am happy. I am not trusting me to invest wisely for the money I worked hard to attain for retirement.
I will teach you how to do it yourself for free. It is really easy. And I like Vanguard, but if you prefer Fidelity or Schwab, I can show you how to do it with them for free. Hiring a financial advisor is throwing away money. And you will NEVER, and I repeat NEVER make enough money with a full service advisor to justify their cost. There is only one way they can improve returns and that is take more risk. And that will eventually hurt you significantly. You cannot get higher returns without taking on higher risk.

I will teach you or anyone else how to manage your own investments in a very short time. Your workload doing it once set up will be less than 1 hour a year. Pretty good pay for a 1% savings on your investment $$$. And that is the minimum savings.
__________________
Life is to short to drink cheap wine.
  #15  
Old 04-28-2017, 01:36 PM
manaboutown manaboutown is offline
Sage
Join Date: Aug 2009
Location: NJ, NM, SC, PA, DC, MD, VA, NY, CA, ID and finally FL.
Posts: 7,377
Thanks: 12,795
Thanked 4,572 Times in 1,748 Posts
Default

Quote:
Originally Posted by l2ridehd View Post
I will teach you how to do it yourself for free. It is really easy. And I like Vanguard, but if you prefer Fidelity or Schwab, I can show you how to do it with them for free. Hiring a financial advisor is throwing away money. And you will NEVER, and I repeat NEVER make enough money with a full service advisor to justify their cost. There is only one way they can improve returns and that is take more risk. And that will eventually hurt you significantly. You cannot get higher returns without taking on higher risk.

I will teach you or anyone else how to manage your own investments in a very short time. Your workload doing it once set up will be less than 1 hour a year. Pretty good pay for a 1% savings on your investment $$$. And that is the minimum savings.
I agree.
__________________
"No one is more hated than he who speaks the truth." Plato

“To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine
Closed Thread

Tags
financial, opinions, recommend, advisors, lane

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 12:14 PM.