Besides the initial 1 on 1 interview and follow up, has anyone gone with the ALPA joined Charles Schwab advisor as their financial guru? Any input/comments, plus/minuses from users would be appreciated. You can either comment here or PM me. Thanks.

 

I did it last year. I think it's great. I've got funds all over the place, and the Schwab guy does a great job of explaining his role. He's not there to sell Schwab stuff, nor does he get a commission, nor does it cost me anything. The union has already paid for his services. He's familiar with our contract and the current A Plan.

He said I can share as little or as much financial data with him as I choose. We gave him all data, and he interviewed us for our family and life goals. He took a week to run simulations on the high, low average outcomes for our current path.

I then asked him specifically for what I could do better, and he gave me percentages of specific funds to purchase for my portfolio to mirror my family's desires. He did not want my logins to manage my funds/stocks himself, just gave me the directions to manipulate my own stuff. He recommended no Schwab products, and I purchased no Schwab products.

Really impressed with the service. He told me that his services as an executive wealth manager normally cost $3-$5k a year, but our costs are already paid by the union.

I've contacted him via email a few times since our initial meeting, and he's provided solid advice. I plan on meeting with him every year for continued evaluation and adjustments if needed.

TL;DR--no reason not to reach out to Schwab. Costs you nothing but time, you aren't required to take his advice, and it's very educational. The gains I've made in less than a year vs the market are...quite nice.

 

I'm not at Fedex yet but Schwab is my primarily trading platform. I highly suggest schwab and 4.95 a trade. since January 1st apple is up 27% wish I put everything into apple

 

Is this Schwab Financial guru still an option? How do you access this ALPA benefit? Thanks!


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Financial Services for ALPA Members

 

Thanks Dirty!


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Yeah buddy, same team!

 

NEVER TAKE FINANCIAL ADVICE FROM A PILOT

Get out of stocks! Too volatile and too risky. You should be in mutual funds with decades of a track record beating the market. Otherwise you are not diversified and you could lose a lot of money. It just isn't worth the risk.

 

Was not impressed with CS at all. Filled out the questionnaire and went to a meeting with a supposed VP. She said you have not filled out any expenses for travel, cars etc. I said everything will be paid for and I would use my retirement and SS to cover that stuff. She looked at me and said what do you have a 401k for? The meeting was over shortly after that.

Will Lukow at fidelity did a much better job and has good knowledge and ideas relating to contract etc.
YMMV

 

Wait a sec….are you a pilot? If so I have to either ignore your first statement or your second one….