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  1. #1
    Registered User New Member

    1st Meeting With a Financial Planner. What Should We Ask?

    Our first ever meeting with a financial planner is on the books for next week. We are excited.

    Is there anyone out there with successful experience hiring a financial planner? What do you suggest we ask about? How will we know if she is the right fit? How do we decide on the best strategy to pursue?


  2. 1st Meeting With a Financial Planner. What Should We Ask?
  3. #2
    Registered User Enthusiast
    Good question. I would want to know her credentials and fees. And if she earns commissions for selling certain products.

  4. #3
    Maybe this is why more people don't make a plan or meet with a planner. We don't know where to start. So we avoid it entirely.

    Personally, I can not think of any good questions. Sort of proves it from my end: I also have no real plan other than my 401k.

    I'll be interested to hear what people have to say.

  5. #4
    Registered User Senior Member
    Definitely ask about fees. And what types of clients she works with. And find out how completely she will help you. Will she help you set budgeting goals and expectations?

    But I think a lot of it has to do with comfort and trustworthiness. Maybe you should plan to meet with several candidates before making your decision.

  6. #5
    I like the ideas of meeting multiple planners. Try to find someone who you feel comfortable with and trust.

    Maybe ask for references.

    And definitely get an idea of what types of products they will recommend for you, and how much it will cost. And how much they get paid from recommending those products.
    Current Fico Scores: 710 TU, 732 EQ
    My Goal for 2016: 750+

  7. #6
    Registered User New Member
    Tomorrow is the "big day". Our first meeting. But we also set up a few other appointments. And we plan on asking everyone follow up questions.

    In all, we've given ourselves a timeline of 4-6 weeks to make our decision. We hope this way we will put more thought into it, and improve our chances of making a good decision.

  8. #7
    Registered User Junior Member
    I remember our first meeting with a financial planner. We really liked him on the spot. Signed up ... and then we ended up spending all our time with other members of his group. Because he was really a salesman. Everyone else did the work. And there was no overlap. We always had to talk to several team members to get a complete picture.

    That relationship was brief. We were looking for someone to make our lives easier. Not create make work for us and add layers of fees on top.

    Much happier now with a small planner who charges us per hour, rather than on commissions.

  9. #8
    Registered User Junior Member
    I can relate Mrs Jones' story. Ive worked with people who are more sales-ey than knowledgable. I hate that.

    How do you find a planner who has your back? Someone who cares, and isn't just worrying about their own bottom line? And will be willing to tell you just how much money you are wasting on inessentials? Because that it is a big part of it too.

  10. #9
    Registered User New Member
    We did not get a sales-ey feel. But we were not inspired either. Probably because she exuded too much confidence in their products. How can anyone be so certain the markets will perform on demand?

  11. #10
    Registered User Semi Pro Member
    We have a financial planner. We ended up with him because he was recommended by two friends who did not know each other. And we liked him from the get go.

    But the process is not just one meeting and you are done.

    We had to prepare for our meeting. And we are constantly meeting and conversing with him - probably 4x per year - to discuss where we are on our income, spending, savings goals, plans, etc. Plus sometimes his views of what is safe or right for us change as he learns about new products or markets change.

    In the end, we rarely make any changes. And he rarely recommends we do. But we like knowing what our options are.

    I guess this is a long winded way to say that financial planning will never be a set it and done approach. Even if that is what happens, it will be because you are constantly actively deciding not to make change.

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