Charles Schwab
05-01-2019, 06:23 AM
#1
Gets Weekends Off
Thread Starter
Joined APC: Apr 2006
Position: 767 Capt
Posts: 130
Charles Schwab
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.
05-01-2019, 12:48 PM
#2
Not a real airline pilot
Joined APC: Jul 2016
Position: Cargo > Pax
Posts: 365
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.
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.
05-01-2019, 01:29 PM
#3
Line Holder
Joined APC: Jun 2018
Posts: 41
Originally Posted by Airbusdriver
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.
08-09-2021, 04:31 PM
#5
Not a real airline pilot
Joined APC: Jul 2016
Position: Cargo > Pax
Posts: 365
08-09-2021, 05:08 PM
#6
On Reserve
Joined APC: Jun 2016
Position: C-17 IP
Posts: 18
Originally Posted by DirtyPurple
Thanks Dirty!
Sent from my iPhone using Tapatalk
08-13-2021, 10:45 AM
#8
Gets Weekends Off
Joined APC: Apr 2013
Posts: 1,622
Originally Posted by hockey27
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
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.
08-13-2021, 03:01 PM
#9
Gets Weekends Off
Joined APC: Sep 2007
Position: 777 Captain in Training
Posts: 1,457
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
Will Lukow at fidelity did a much better job and has good knowledge and ideas relating to contract etc.
YMMV
08-13-2021, 05:16 PM
#10
Gets Weekends Off
Joined APC: Jul 2010
Position: BE-20, LR35
Posts: 266
Originally Posted by PurpleToolBox;[url=tel:3278929
3278929[/url]]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.
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.
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