Any financial planners/advisers here?

[KonaDawgDeluxe]

I was thinking of transferring my traditional IRA to someone else... perhaps to a Vanguard IRA. Currently my IRA is through Hartford (Hartford Growth Allocation Fund). I know most people's IRAs and 401Ks and what-not have been battered around due to this poor economy. As such I'm questioning if my Hartford fund is really going to be prosperous at the end. I guess its always good to look around and review other products. Afterall, we're talking retirment. I don't want to eat dog food when I'm 60 and Social Security may not be around. Soooooo, any adviser here with some advice that you can share? :?: PM me. Thanks in advance. :wave:

 

[Shu]

Contact Dan....he is a very good friend of mine

http://www.romerowm.com/ourfirm/

 

[rob240z]

Looks like he's an LPL advisor. Independent, with access to unbiased research, no propietary products to force on clients either. Good company with strong business and portfolio models. I know, I work for them.

 

[EMrider]

Looks like he's an LPL advisor. Independent, with access to unbiased research, no propietary products to force on clients either. Good company with strong business and portfolio models. I know, I work for them.

Those are usually good signs to look for. But another item to keep in mind are the fees charged. This is usually what hurts people the most over long time horizons. Professional investment mangers (i.e., the people who actually manage the money) get paid 30-70 basis points (3/10th to 7/10th of one percentage point) per annum. Too often I've seen those dispensing advice charge as much as 2.5% per annum. IMHO, a reasonable fee for advice is less than 1% per annum.

The 'best' planners often just charge a flat fee and do not get paid on commission. That is what I'd recommend over an annual fee on assets managed. Very often the fee seems steep. Good ones can be $250-500 per hour. But that is a bargain for quality advice and a MUCH better deal for the investor over the long haul than paying an annual fee on assets under management.

Good luck.
R

 

[rob240z]

Good points. Some advisors charge more, some less. Depends on the type of model used and the type of service you get too. Somebody that puts your money in an account, sets a fee rate and just leaves it at that is somebody you want to be wary of. They should be actively managing your account and keeping tabs to make sure that the model that they are using suits your short and longterm goals.

It's a relationship, so you have to make sure that you and your advisor see eye to eye on things.

 

[Rumpled]

Approximately 85% of mutual funds cannot consistently beat the S&P 500. Think about that. 5 out of 6 can't beat the market. Those fund managers are being paid millions per year. Most of my $ is in a S&P 500 fund, which also have lower fees.

Good luck on your search.

 

[TooTech]

I have a Roth IRA with Vanguard but my main egg is with my employers 401K. I like doing my own research. I picked Vanguard because of their low managment fees which are typically some of the lowest in the industry. Fees can be a big detriment in mutual fund earnings so I have read I manage my own funds but I think you can have your account managed for you as well.

 

[hebby]

I am a financial advisor. I have access to many different fund companies including Principal, American Funds, Franklin Templeton, Scudder, Putnam, Oppenheimer just to name a few. I do not charge a set up fee or anything else. You will only have to pay the fee's that come directly from the fund company which vary for less than a point to almost 3 points depending on what you go with. I would be more than happy to talk to you or any one else that has questions regarding retirement savings.