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Thursday, February 22, 2024

Do I Want a Monetary Advisor? (The ONLY Information You Want!)

In the event you actually wish to look into hiring a monetary advisor, begin by looking out http://www.napfa.org. You’re in search of a fee-only monetary advisor (not one who fees AUM).

Right here’s an introductory electronic mail you’ll be able to adapt and ship:

Hello Mike,

I’m in search of a fee-only monetary planner, and I discovered you on napfa.org. A bit of bit about me: I’ve about $10,000 in complete belongings—$3,000 in a Roth IRA (uninvested), $3,000 in a 401(ok), and $4,000 in money. I’m in search of investments that may maximize long-term returns whereas minimizing prices.

In the event you suppose you’ll be able to assist me, I’d like to fulfill for half an hour and ask you some particular questions. I’d additionally like to listen to the way you’ve labored with related individuals with related targets. Would subsequent Friday, 2/6, at 2 p.m. work? Alternatively, Monday, 2/9, is broad open for me.


Keep in mind, get a “fee-only” advisor. This implies you’ll pay them an hourly or mission charge, NOT a share of your belongings. 

It’s best to attain out to no less than 10 and arrange calls with 5. You’ll shortly be capable to inform who is an efficient match for you. I’ve discovered that about 30% don’t reply to inquiries, 50% simply aren’t a match (haven’t labored with individuals in my scenario, are too technical, or are condescending), and about 10-20% are doable choices. By talking to no less than 5, it turns into very apparent who’s the very best match for you.

Make sure you interview them utilizing the questions in my guide on web page 201.

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