Reply to Federal Employee Financial Advisor Hourly Fee Recommendations

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[quote=Anonymous]You are grossly underestimating how complicated a comprehensive review of your financial life is. No reputable advisor will “take in where you are in an hour or two” and spit out advice. For example, you may have a range of insurance products, but determining whether they’re appropriate for you and your needs would actually require looking at the underlying terms of the insurance products. In y case, you could look at the face value of my disability insurance and think I was set, but when you look at the underlying terms of the policy you’d find that I only have a 10-year policy because I thought I’d work for tthe feds till I retire and if disability became an issue, I could qualify for a disability retirement. But now that I’ve left the feds, and taken a new job with a paycut, the monthly payout is too much for my salary so I’m overpaying and now that I don’t have access to the same disability retirement, I really need a policy that will pay out until I’m 65 and not just for 10 years. So I may think I’m set on insurance and it’s not something that needs to be reviewed in depth, but a financial planner than made recommendations without knowing everything about your financial life would legit be doing their job poorly. So if you find a planner that’s willing to do what you’re asking for, that’s an obvious sign that they’re not very good at their job so any amount that you pay them would be a waste.[/quote]

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