Investment advisor recommendation
 

We are looking for a new investment advisor. I have had BAD luck with the last several and have being using TDAmeritrade on my own. I did OK last year, but I want someone who knows what they are doing. I do not want any income - no annuities - just want to increase my net worth.

I looked at some on the internet in Lake Sumter, but they are so young/inexperienced.

Any suggestions?

We have been using Parady for several years now. They will give you options and explain the benefits without being the least bit pushy. They offer many different services… Annuities.. Life Insurance… Stocks/Bond investing and Tax service for their clients only at a very low cost. We have done well with them.

I would suggest you save the cost (1+% annually), invest the time it takes to vet a new person in a bit of self-education and then do it yourself.

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

He also makes solid recommendations on mutual fund portfolios at several low cost providers (Vanguard/Fidelity ...). I have been using his info since 2005 and can claim a solid and happy retirement so far.

If you do go with someone, make them show you their fiduciary agreement which they should sign and determine EXACTLY how they are paid for their services - hourly, % of manage funds, by trading/churning, commissions on products or stocks they promote and sell you ...

JMHO

Jayne Wakeman. Edward Jones office on 466 in the same plaza as Bonefish Grill. Have worked with her for over 13 years and could not be more pleased with her financial knowledge and professionalism. For us she has accomplished your goal stated above. Highly recommended.

Sounds like you only need investment advice for your portfolio. I would look toward some of the online brokers and their robo portfolios. Basically I think EFT funds will meet your needs.

buy index funds
 

Yeah, I hear you. Buy index funds and call it a day. Maybe SP500 fund and an international fund. If you want to get fancy select a fer more. done, done, done!!

Schwab private client services
 

Charles Schwab private client services are available if you have at least 500K. They charge a very, very small fee and have been extremely successful for us over 20 years. They have an office in Sumter landing.

Sounds like you want advice on a well diversified portfolio for "hands-off" growth.
This is very simple to achieve, so the young'ins are okay to use.
They learned this in their second class.
It's very simple and they can make suggestions relatively quickly and simply.
Let mutual fund diversify you.
Good Luck

Of all investing vehicles, Insurance Policies and Annuities have the highest commissions for the broker.
Be very careful using these.
If the same agency prepares your taxes, they know if you have other money out there that they are not managing.
That would be another red flag 🚩

Steve Schneider at TB financial was a finalist in our exhaustive search...they use Fidelity and he is a fiduciary meaning not trying to sell you any particular product for his benefit. We chose Blackston Financial in the end and they use TD Am. so that would be easy for you. It is a larger firm, also fiduciaries.

Hi. Try Andy Campbell with LPL. He is experienced. He listens, he answers your calls, he responds to emails and texts. He meets with you in person at least twice per year, or more often at your request. He has done wonders with our portfolio. If he does not know an answer, he will contact other professionals to get it. He does all of our portforlio, our daughters and grand childrens. All are pleased with him. phone number is 352-804-9595.

Err, "several"? If someone has had several divorces..........maybe the problem is .....that person. Irrational expectations perhaps?

Bad idea - that is like repairing your engine by reading how to do it - pay an expert and then relax- if interested in someone out of state let me know - I have been with my broker for 15+ years and he is HONEST AND TRUSTWORTHY!!

fidelity

Nobody will do a better job of managing your money then you. Go to different website’s, go to those free lunches learn as much as you can about finances, and look into investment opportunities like Vanguard. Do it yourself you will be better off

ETF are all you need. Save the fees. Vanguard and Fidelity have robo investment strategies. Your advisor is just going to use one of these programs. Do you really believe they are going to beat the market consistently? See Warren Buffet,

You are only paying for hand holding

Best Vanguard ETFs to Build a Portfolio

Thank you for telling me my successful strategy is a BAD IDEA.

I have had a very successful financial advisor for over 20 years and my portfolio has shown continued growth, based upon my expectations of "no-risk....moderate risk.....risk". I strongly suggest you contact:

KEN WINGERTER, VP INVESTMENTS, MORGAN STANLEY WEALTH MANAGEMENT
8889 PELICAN BAY BLVD., STE. 300 , NAPLES, FL, 34108
Phone: (239) 449-7830
Ken.Wingerter@morganstanley.com
(239) 449-7830 800.234-9928 MOBILE

He is not only proficient, he is very conversant so you will have a clear understanding of what he will do for you and what you can expect.

Tell him that his very favorite investor in The Villages referred you to him.

Honestly why would you trust a stranger.? Look up the educational background of these people. You likely will be unimpressed. It’s your money, fees are unnecessary. ETF are tax efficient,

If you really want an advisor look at Josh Brown from cnbc. Reformed broker

Joshua Brown Profile - CNBC

https://ritholtzwealth.com/

Op-ed: Josh Brown'''s four questions to ask your next financial advisor

[QUOTE=mkjelenbaas;2053696]Bad idea - that is like repairing your engine by reading how to do it - pay an expert and then relax- if interested in someone out of state let me know - I have been with my broker for 15+ years and he is HONEST AND TRUSTWORTHY!!

Too vague a statement. Many have never seen a bear market

Anthony Gould
Anthony.Gould@ml.com
(352) 350-2752

Merrill Lynch Sumter Landing

The last 10 to 20 years have been great
 

If you're not happy with your last brokers then you must have had your cash in the bank. Nobody really knows what's going to happen with the economy but there's at least a 50% chance it's going to go up in a 50% chance it's going to go down. The simple response is to do it yourself and most people on here are telling you to use ETFs which is right.
At our age . Keep 20 to 30% in cash in government bonds short-term or the bank and the rest you should invest in varying degrees in the following
Large cap ETF
Midcap ETF
Tech stock ETF
Overseas stock ETF

Then don't look at it for a full year because you're going to go crazy when things go up and down that's all you need to do.

The stock market goes up and the stock market goes down and you'll get at least the growth that everyone else gets
PS keep 5% to pick out a few stocks individually just to play with because you know you want to

Read “The Ultimate Retirement Guide for 50+“

Managing your investments is a DIY project. The problem with hiring an advisor is that people who need advice the most are the least capable of screening out the shysters, who will take advantage of them.

There's a lot more to investing that ha been talked about. Having been a financial advisor (I'm a CPA) - that's past tense.

What the risk profile of the investor - some people want a portfolio that don't go up and down like is happening now, some are willing to take risks. What are their needs is the future? What's their net worth now? Do they have a significant other? What's their age?
What's their health?

For anyone to suggest an investment strategy and what investments to buy for someone else is a disservice.

Some investors don't feel secure in doing their own investments with the wide range of products out there. So the question that started this thread seeking an investment advisor is probably the right solution for them.

Scott Windsor. Citizens First Bank. Don’t worry about him being affiliated with a bank. He’s very experienced (25+years), professional and a fiduciary! Very happy with him.

We have a financial manager who has done a great job for us over the past five years. He takes 1% as a fee but pays for himself many times over. When the market is down, we don’t get killed. When the market is up, we do well. He’s located in California and a partner in his firm. We Zoom whenever we need to talk with each other and he plans on moving to Florida in 5 years. If you are interested, PM me and I’ll share his contact info.

Save the fees. Go to bogleheads.org and read the wiki. You can learn everything you need there. Then go to the forum and read. Then ask questions on the forum. Lots of knowledge and helpful folks.

It's not as hard as everyone thinks. It just takes a little time to research an learn.

Synergy Wealth Alliance here in The Villages. 15 years with them now and they are excellent in every facet. The litmus test is this, our portfolio only went down 11 percent during the market crash in 2020 while the broad market went down 33 percent.

Contact: Matt Wade or Carrie Letsinger

matt@synergywealthalliance.com

carrie@synergywealthalliance.com

352-2598498

Blackstone Financial
 

These guys are a fiduciary. They work for you. Very highly recommended. Brow wood free consultation. Check with them, they will not steer you wrong.

Blackstone Financial
 

These guys are a fiduciary. They work for you. Very highly recommended. Brownwood free consultation. Check with them, they will not steer you wrong.

I know that they give their investors lots of expensive parties and events and gifts and this makes me wonder where that money comes from? Is it built into their fees? I am not trying to discredit them but just curious.

This provides NO guarantees. ZERO.

But it’s a fancy word that sucks people in!

Look at the massive advertising, promotions and free parties etc. that a company has. That money comes out of YOUR pocket. Be careful.

Wes Martin with Mariner Investment Group out of New Albany, Indiana.
 

Wes Martin is one of the smartest investors we have ever met. He truly puts your money where he puts his. They are associated with Charles Schwab and can offer all of the benefits Schwab has. He is well versed on tax laws and stays up-to-date on everything that can affect your portfolio. We’ve been with him over 20 years and have not regretted one moment. Wes is also very friendly and personable. Even though his office is located in Indiana he has clients all over the world, including several now in Florida. In fact he lives in Florida most of the year. Call him at 812-542-0993. You won’t regret it.

When I was just getting started in my professional life one of my colleagues referred to stock brokers as stock bookies. That has stuck with me even though these days they like to call themselves financial advisors.

It might be wise to compare one's own educational background, financial expertise, capabilities and economic success with any potential "financial advisor" before hiring him or her.

If they don’t gather assets under management they won’t be employed long. It’s all about hand holding. Period. Ancillary services are another matter. It’s your money. Hold on to it.

Everyone is a star in a rising market. Things on the verge of changing,

Just the facts. The rest is noise.

Active fund managers trail the S&P 500 for the ninth year in a row in triumph for indexing

Not news to me. Almost all of the stock portion of my assets has been invested in the Vanguard S&P 500 Index Fund for about 40 years. Another good choice is the Vanguard Total Bond Market Index Fund. If the financial advisors can't outperform the indexes, there is no reason to hire them.

We use Blackston as well. Very happy with our guy, Travis Bender. We like that they are fiduciaries.