Thoughts on financial advisors?

[Uglyowl]

I am about to reach the age of 30 fairly soon and have always liked the do it yourself approach thing and had the thinking of "I can manage my finances myself", hell I am an accountant.

Recently I have switched jobs and have a 401K and pension rollover, a new baby (college) to deal with and maybe a few other financial questions that I would like to bounce off of someone.

How much do these guys generally charge? Is it a percent of assets invested per year?

In general if you find a good one are they worth it, or is it stuff you can do yourself with some research?

If I find one could be helpful, I will start to look at who could be right for me.

Thanks!

[Sniper]

owl, with your background, its likely something you can do yourself.

Pick up a book on personal finance... David Bach's Automatic Millionaire, and/or a suzie orman's book.

Subscribe to kiplingers or money mag.

Only after doing some research on your own should you even consider going to a professional. Even if only to insure a more thoughtful conversation.

There are at least a couple of financial advisors that post here, so you could always see if you can get your questions answered by posting.

[Elaboration]

Uglyowl,

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"I can manage my finances myself", hell I am an accountant.


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These are two very different disciplines though. Just because I am knowledgable about the tax code and know some of the forms doesn't mean I am filling out my corporate return this year.

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Recently I have switched jobs and have a 401K and pension rollover, a new baby (college) to deal with and maybe a few other financial questions that I would like to bounce off of someone.


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While you most certainly have the apptitude to learn about planning, truth is you're probably pretty busy.
You might do well to find an hourly fee only advisor. Not the kind that charge huge retainers, or have minimum client requirements etc., but an office that will answer your questions and make recommendations re: your 401(k), college etc. When it comes down to implementing products, they will generally provide you forms for you to handle the transaction. You're paying for the advice, not the products, so they'll likely recommend no load stuff that will be easy to implement. These offices are springing up more and more, so a google search should help you find one.

Stay away from commission based advisors, unless they come 'highly' regarded from people you respect.

Hope that helps-