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Old 12-06-2012, 01:53 PM
4 posts, read 6,131 times
Reputation: 13


Any recommendations on a financial adviser (What company and name of adviser)?

Old 12-08-2012, 09:19 PM
Location: Arlington, VA
419 posts, read 797,420 times
Reputation: 88
Fidelity Investments. They have several offices in Northern VA. One in Tysons Corner, one in Old Town Alexandria, and other branch locations.

A lot of their reps are smart guys and may be able to provide you with some basics in investment. But be careful they may try to sell their mutual funds which have higher expense ratios.
Old 12-09-2012, 01:26 AM
162 posts, read 304,859 times
Reputation: 103
We work with a guy from Edelman. He is never pushy, but always answers our questions when we ask. He even recommended managing our kids 529s ourself rather than pay him a fee to do it for us. (529 plan in VA is pretty straight forward, but we appreciate that he told us the "right" thing to do even if it meant he would not make money.)

His name is Erich Hoffman - works in Fairfax.
Old 12-09-2012, 05:22 AM
1,256 posts, read 3,514,338 times
Reputation: 778
There are financial advisers and there are financial advisers - an adviser good for someone making $100,000/year for SURE is not the same as for someone making $1,000,000/year (think interest from lottery winnings, etc!). There are reasons a recent presidential candidate had an uber-expensive =team= of financial advisers rather than a local CPA; though this is the extreme side of financial advising, it relates the idea that "financial advising" really is dollar-related.

An "asset protection" attorney may be a better source of "which adviser" advice.
Old 12-10-2012, 08:59 AM
22 posts, read 32,247 times
Reputation: 10
Financial advise can be broken up into two main activities (1) Overall plan for savings, tax planning, retirement planning, collage savings, etc (2) Investing in specific assets to accomplish items in #1.

Most decent advisers do a good job of Item #1 but invariably do a bad job on #2.

Investing is extraordinarily counter intuitive so the vast majority of the people would end up doing the wrong thing. Add to this the misalignment of incentives between the investor and the financial adviser it ends up with really bad choices. There are only one way to protect yourself if you are not deeply into finance yourself. First educate yourself. A good book for this is "Four pillars of Investing" by William Bernstein. It is by far the best book specifically directed at the beginners. Second, what ever you do, pay only a fixed fee, never ever agree to a fee based on percentage of assets.

If you read the book suggested above, you would have a pretty good idea of where the pitfalls are and the difference in savings to you compounded over 30 or so years would be somewhere in the 7 figures.
Old 12-10-2012, 11:15 AM
223 posts, read 429,237 times
Reputation: 151
Originally Posted by BRK68 View Post
Financial advise can be broken up into two main activities (1) Overall plan for savings, tax planning, retirement planning, collage savings, etc (2) Investing in specific assets to accomplish items in #1.

Most decent advisers do a good job of Item #1 but invariably do a bad job on #2.

Exactly. They know how to set up the investment vehicles, but are bad at choosing the make and model of these vehicles. There are just entirely to many conflicts of interest, in that arena. I always like to run their names through the Assessor Database(s). Let's see their brilliant housing moves.
Look at some of the pathetic holdings of the mutual funds...Lucent, AOL, WCOM, and I could name 100 more Ponzi companies, with very poor accounting practices, that garnered the full support of the investment community.
Old 12-10-2012, 08:54 PM
394 posts, read 600,471 times
Reputation: 205
Default why would you hire an advisor?

I"ll give you financial advice for free. What are you looking to accomplish?
Old 12-11-2012, 08:18 AM
968 posts, read 1,441,087 times
Reputation: 638
Good question - I have been looking for one as well. I have money deposited directly into a savings account from each paycheck, but it's just sitting there collecting piddly interest. There has GOT to be a better way to save for emergencies, my kids' futures, retirement, etc., but I know absolutely nothing about investing at all, and every investment option claims to be the best for one reason or another.
Old 12-11-2012, 09:07 AM
7,966 posts, read 18,043,285 times
Reputation: 2588
Note that posting a recommendation of a specific advisor - particular if one's post count is relatively low - can be construed as advertising which is against the Terms of Service. Those not directly involved in the field should consider offering to send the Original Poster suggestions via Direct Message.
Old 12-12-2012, 07:27 PM
Location: Aldie, VA
199 posts, read 601,947 times
Reputation: 92
Here are a couple of other sites that might give you some more help financial planning advice:


Personal Finance
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