Where to find and how to select a financial planner?
May 27, 2019 10:53 AM   Subscribe

I have never had a financial planner (absurd I know) and have recently made some rather bold financial moves, I wonder if the good folks here might share any tips on where and how to find a good financial planner?

I live in San Francisco but spend a good deal of time in Minneapolis as well, most my immediate questions have to do with real estate. Are there any good online services? sort of like Clarity for financial planners?
posted by specialk420 to Work & Money (7 answers total) 22 users marked this as a favorite
 
The Garret Planning Network is a good resource for finding fee-only financial planners who can offer online or in-person consulting: https://garrettplanningnetwork.com/

You can search by location and specialty.
posted by The Architect at 11:37 AM on May 27 [4 favorites]


Thanks @the architect
posted by specialk420 at 11:44 AM on May 27


Depending on your employer's retirement plan(s), you may have free access to Financial Engines; per their website, it seems they also offer fee-based services as well. I've used them through my workplace and have been pleased with their advice so far.
posted by mogget at 1:36 PM on May 27


You want a fee-only financial planner. Search the XY network or the Fee-only network.

Many planners work remotely. I've never met mine in person. But in your case you want someone who understands the ... intensity ... of the SF real estate market. That means you need either a Bay Area planner or maybe someone in LA. I'm happy to recommend mine. DM me if you're interested in a referral from a stranger.

Fair warning: they are going to make you get life insurance (if you have dependents) and set up a will or trust. This will seem boring and a distraction from real estate and retirement, but if they don't insist that you do this then they are bad at their job.
posted by caek at 2:41 PM on May 27


Anyone can call themselves a financial adviser or planner. Look for a fiduciary; fiduciaries are obliged to act in your best interest. Certified Financial Planners are fiduciaries. They have to fulfill requirements in ethics, education, examination, and experience to become certified, have ongoing certification requirements, and are accountable to the CFP Board.
posted by ruetheday at 4:31 AM on May 28


awesome thanks all.... ask metafilter is one of the best resources on the web IMHO.
posted by specialk420 at 10:39 AM on May 28


Looks like you already have your answers, but just to chime in: people I know who have used Garrett planners have been very happy, and Garrett gets recommended regularly on bogleheads.org, which I think is the best financial advice forum out there. Here's the Bogleheads wiki page on financial planners, with a linke to Garrett.

(And while professional advice is often better than forum advice, you may want to try asking some of your questions on the Bogleheads forum, as well, and compare their answers with whatever you learn from your official planner person.)
posted by kristi at 8:35 AM on May 31


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