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Fee-based financial planner in NYC for non-ultrawealthy?
September 26, 2013 3:28 PM   Subscribe

Financial advisor-filter : Can anyone recommend a fee-based financial planner in NYC? Or are there sites/review sites that don't have shills on them? For DINK couple looking to save for apartment purchase and make general financial plans for the future.

Does anyone have personal experience with a financial advisor? How much for a 1-2h sitdown consultation?

What should we look for in a FA? We can do a lot of this stuff ourself, but would like to pay for an independent, verifiable advisor with whom we can make an overall plan.

For independent advisors, there is this side: http://www.napfa.org/
They appear to have high standards….but could this be more shilling?


Details
DINK couple (and will remain that way), savings ~$100k ish, income ~$160k, ~$30k debt, one partner excellent credit but freelancer/one partner good credit/steady job. We want to plan to buy an apartment in NYC in the next 1-2yrs and get our financial situation set up.

Specific advice wanted:
Credit score optimization. (Debt shuffling from one partner savings or 401k->credit card payoff?)
Saving for first time mortgage / IRA tax / other advantages
Mortgage products for co-op buyers in NYC
Unusual mortgage products
Possible inheritance income from outside the US/tax issues (sheltering)?
Other mid-life financial plans.

prefer public answers but: throwaway email: diarcoonsit@dunflimblag.mailexpire.com
posted by anonymous to Work & Money (2 answers total) 6 users marked this as a favorite
 
I don't know of one but you might try joining the Bogleheads forum and asking that question there.
posted by lillian.elmtree at 6:45 PM on September 26, 2013


I use Ameriprise and have been fairly happy.. You should be right about their threshold for client, and I believe they have a yearly fee-based model in the $600 range for active advice.

It really depends on the planner you get and their personal ability. Start with where you have your assets, though. If you have that $100k at Fidelity, for example, they offer various financial planner options, as well.
posted by rich at 6:35 AM on September 27, 2013


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