{ "media_type": "text", "post_content": "Are financial planners worth it? I am interested in getting a financial planner because I feel as if I am trying to accomplish too many goals (save money, pay down debt, invest) and am doing it in an efficient/smart way. I was thinking about going with Facet Wealth Management to help me come up with a focused plan but am worried I may just be adding another unnecessary expense. Any advice is welcomed!", "post_id": "5f8a2b19fa1e98001e08071d", "reply_count": 5, "vote_count": 1, "bowl_id": "5b3f7377ab53db00136f7b4c", "bowl_name": "FIRE Financial Independence Retire Early", "feed_type": "bowl" }
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Are financial planners worth it? I am interested in getting a financial planner because I feel as if I am trying to accomplish too many goals (save money, pay down debt, invest) and am doing it in an efficient/smart way. I was thinking about going with Facet Wealth Management to help me come up with a focused plan but am worried I may just be adding another unnecessary expense. Any advice is welcomed!

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Maybe find a financial coach rather than an advisor. An advisor’s main goal is to gain AUM or sell you financial products where they make a commission. A coach will likely not be licensed to sell you anything.

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In my experience it's not worth it, they can't really tell you much that you don't know \ could find out for free

In my experience, approximately 5% of planners are “worth it”...personally, I find that I’m worth around 100x what I charge for some clients and am a complete waste of money for others...really depends on the client’s situation and whether we have effective communication around things that matter. Some clients believe something matters dearly when it really doesn’t and that’s difficult for me to redirect. I’ve met with many financial planners as an undercover “prospective client”...it is sort of a hobby of mine...and that’s my basis for the 5% claim. There is sort of a pride taken in ignorance in my industry. It is weird and upsetting.

In my experience, financial planners take a holistic approach and look at life insurance, long term care, health insurance supplement forecasting, etc. It’s not just about the investments, but about making sure you have a comprehensive plan.

Agreed @Accenture 1. Well said

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