What does a financial planner do?

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junew70
iVillage Member
Registered: 09-12-2011
What does a financial planner do?
3
 Mon, 02-06-2012 - 12:48pm

DH and I keep thinking that we need to go see a financial planner. We have a tiny bit of debt, but some big plans on the horizon. If we go to a financial planner and say something like "We want to save $$ to buy a house" will she/he give us an actual plan for doing that?

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mahopac
iVillage Member
Registered: 07-24-1997
In reply to: junew70
Re: What does a financial planner do?
 Mon, 02-06-2012 - 1:57pm

It depends on the planner, especially on how they make their money.

pinchpenny2000
Community Leader
Registered: 05-15-2001
In reply to: junew70
Re: What does a financial planner do?
 Tue, 02-07-2012 - 11:00pm
Mahopac gave you a very good idea of the duties of a financial planner. Your best bet is a fee-only person. Insurance people want to have you buy their products. I almost made that mistake. An agent made out a very fancy looking plan for us, but the more I looked at it, the more I realized it helped him more than us.
pinchpenny2000
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junew70
iVillage Member
Registered: 09-12-2011
In reply to: junew70
Re: What does a financial planner do?
 Thu, 02-09-2012 - 3:35pm

Finding a fee-only planner sounds like good advice. (We're all insuranced-up, anyway.) Mind if I ask roughly how much that cost you? Is it a one-time fee, or an ongoing thing, like a retainer?

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