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[quote=Anonymous]How do you use a Financial Planner, and how much do you pay the person?  Also do you use a fee-based only person, or something else.

We interviewed a financial planner who we both like, but my husband disputes the value in paying roughly 1% of our total assets every year to this person.

The FP is entirely paid via fees, which amount to about 1% of our total assets every year.  (Based on a certain fee percentage for our first million, plus a smaller percentage for the amount over one million).  Our total assets including our house is over $3 Million dollars.  We are within a few years of retiring, if we get to choose and don't get laid off. Our kids are college grads and have somewhat launched.

I think our finances are somewhat of a mess.  We share everything, but we have maybe 6 retirement accounts, several separate accounts for stocks (which are $1 M of our assets), and we've not done any planning for retirement unless you count trying to save money and invest it well in general.

The FP we interviewed was recommended by a friend who uses them and has for years.  The services include setting a proportion for stable vs high-growth investments, which are checked weekly and, if the proportions change by more than 20% (like becomes heavily weighted toward high-growth investments), the FP contact us to let us know they recommend selling/ buying stuff to bring it in line.  Also ways to protect us from taxes where possible.  Also, structuring things so we know exactly how much money we definitely need more month and making sure we have that money reliably coming in.

My husband things we should manage it ourselves and should tell the FP we don't envision an ongoing relationship, and see if they will simply sign on for one year of this and also sort of educate us on what to look for in the future.

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