Originally Posted by aileronjam
I am looking for a financial advisor who is familiar with the airline world (preferably an airline pilot or former airline pilot) in the Seattle/Tacoma area. If anyone has any recommendations I would appreciate an email to firstname.lastname@example.org
Be VERY careful when looking for a financial planner. Very careful. It is a VERY scummy business filled with people who are SALESMEN first and fiduciaries second.
Unless you feel you need continuous hand-holding, find a guy that charges by the hour. Google "Garrett Planning Network" and look for planners in your state. Those financial advisers pay a fee to be part of that network, but they have to have some sort of "by the hour" plan. Yeah, you'll have to pay 2 or 3 thousand out of pocket and perhaps a couple of hours a year for re-balancing, but that can be a lot cheaper than paying 1% (or more!) for assets under management (AUM).
Make sure the guy/gal you sign up acts as your FIDUCIARY. That word has a very specific, legal meaning. Get it in writing.
If you're going to get a guy that charges a percentage, if it's more than 1% find someone else. It's a buyer's market.
Minimum qualifications for me would be an experienced CFP. A CFA would be even better. A guy with a degree in finance or a financially related field would be ideal as well. If all a planner has is a few FINRA exams done with no credentials other than that, I wouldn't even consider him. The exams aren't very difficult to pass IMO.
Check out the financial planner's Form ADV. For example, I believe this is the Form ADV
for the guy that posted just above me. Look at the disciplinary history AT MINIMUM.
Do not let anyone have access to your money. Let the planner give the advice. You execute.
Go over to the Boglehead's forum
, IMO the BEST personal finance forum on the planet. Read until your head hurts. Again, if it were me going to a financial planner, I'd anonymously post my financial situation and see what the VERY smart people over there say. Expect to be told to invest mainly in low-cost index funds. Post what your financial planner wants you to do on there, too, and get some feedback.
Good luck. I hate to say it, but I feel bad for guys who have to go out on the open market and look for a good financial planner. Between friends and family I have yet to meet one who was more interested in selling whatever product was in his inventory rather than what might be best for the client. Good luck.