Recommendations for Financial Advisor
 

I am looking for recommendations for a financial advisor within The Villages that can help someone totally reluctant to make any change from a current broker. Do you know of a professional who offers reliable advice about annuity and other investment accounts (to someone totally ignorant about investments)? I have an appointment with Truist about an annuity account, but aren't there other options, whether it be a bank or brokerage? Alternatively, are companies who offer a free meal to talk about retirement planning a legitimate option? The way their ads are presented reminds me of timeshare sales and makes me leery. Thank you for any responses.

Go to Fidelity. Who ever you pick make sure they are a fiduciary.

Great advice. Go to Fidelity in Lake Sumter Landing. Stay away from banks and annuity salesmen.

I would go with Schwab, or Fidelity, maybe even Edward Jones. A friend of mine used a local Advisor (Who does host dinners here) with a small office of maybe five or 6 employees they put her into some questionable stocks, some of them even went bankrupt and she lost seven to 10 thousand dollars on two of them. He was charging her 1 1/2 per cent every month. We eventually got away from him entirely and split her assets between Fidelity and Schwab. They are both self directed accounts, which means no fees. They both offer some financial guidance at either one to two percent, if you need guidence. So just go talk to them without swapping your money there and listen to their sales pitch. But I would definitely stay away from these small outfits especially when they have relatives working in their office.
Just think if one of their principles would die, the chaos your money and income taxes Would be in.

Away from annuities
 

I would stay away from annuities (high fee structure that benefits the seller) and banks (I don't believe they have the expertise). We have been with EDWARD JONES for 15+ years (not a local office as we stayed with our original guy up north). All I can say is that we have been taking money out since retirement and the account balance is more than when we first retired. Of course we are following agent's guidance so as not to run out. He calls us at least quarterly to check-in and rebalance accounts (change investment strategy) as they can't perform trades without your permission. When we have questions, he is very responsive either via web site or phone call. You don't see a lot of advertisements from this firm but I would suggest checking them out and I see they have several offices in TV. I recommended my two adult kids to EJ and they are both happy with results.

Wise to be leery. Whatever you do, at least ask yourself some questions:

. Is there anyone in this world who cares as much about your money as you do ?
. ALWAYS ask the "advisor", HOW DO YOU make money ?
. Is it easier to do study and manage your own investments, or, it is easier for an advisor to study and manage the investments of hundreds of different individuals all with varying goals ?
.... and maybe one more, HOW are all those steak dinners a nice restaurants paid for ? Plenty of investment clubs around if you have no idea about making investment decisions, go to a few meetings, listen to the discussions, and start reading the many books available...it's not as "mysterious" as some think.

Banks and insurance companies (annuities) are two of the worst places to go for investment advice.

I agree with Fidelity, but you should know that they also sell annuities. An annuity is a life insurance contract, and is usually a bad investment.

Some years ago when I was in a discussion with my Charles Schwab advisor I brought up annuities. He adamantly discouraged annuities. With a little help from him I learned to self direct my investments.

I agree. Banks can have stockholders in line to make money. (Health insurance companies have stockholders and we all know how that affects our premiums.) Btw, Bank of America acquired Merrill Lynch in 2009 but their investment side calls itself Merrill, no mention of that pesky BOA name.

I like Fidelity but others I know are happy with Schwab and Vanguard and Edward Jones.

Schwab has stockholders. Fidelity and Vanguard do not. Of the big ones, Fidelity and Schwab have a bricks-and-mortar presence. Vanguard does not. Edward Jones has its advisors in individual offices.

Boomer

Recommendations for Financial Advisor
 

We are Very Happy with Blackston Financial on 466. Very knowledgeable and helpful. Kyle is Great!

Another vote for Fidelity

Whatever you do, use a fee-only financial advisor acting as a fiduciary. 1% of AUM is what many want. Edward Jones charges 1.5% of AUM. If one earns 7.5% that is 20% of one's income, a huge bite. Then add in the friction of trading costs and taxes. Brrr! Please only go with inexpensive index funds from Vanguard, Fidelity and Schwab.

Annuity’s are bad. Put your money in Vanguard and save all those fees. If you are totally uncomfortable with that they do have people to help you but a little research on your own is pretty easy. Their funds offer low expense ratios and you will be money ahead.

Parady
 

Honest - looking out for your best interest - I can only say great things about Parady. Ask anybody that is with them - you won’t be disappointed.

Blackston financial !
Great company!