Does anyone have any suggestions on how to find a good financial advisor who works on some basis other than assets under management such as an hourly or per engagement basis? I find aum advisors are so expensive and don’t have a broad range of expertise eg they know about financial planning but don’t know about taxes, investments or insurance.

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I find asking people in my network for recommendations to be the best way to find financial advisors. I found my most recent one that way, and the one before it as well. In fact, I worked with them for years until they retired. But tapping into my local network has been the best way for me to find someone who doesn't completely overcharge.

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The standard AUM fee is 1% not including special services fees or institutional fees. That money is paid regardless of how the market performs.

If your risk tolerance is medium to low, or if you’re within 10-15 years of your desired retirement age, I would highly recommend finding a firm that specializes in wealth protection & wealth preservation that does not charge any fees.

Having a diverse portfolio is important, but I’m at a point where I’m no longer willing to gamble more than 20% of my nest egg in the variable market. I’d much rather place the bulk of my money in vehicles with contractual guarantees against losses, and average actual rates of return.

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My husband is a CFP who is also an EA which is what you should probably look for - a planner who also knows their way around taxes and can give tax advice. It is wild to me how people will hire an advisor but not also get tax advice, so kudos to you for thinking about this now and recognizing what you need! My advice if you can’t get a personal recommendation is just to interview people with the right credentials until you click with someone.

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With any important professional - lawyer, realtor, mortgage broker advisor, you really need to find someone you know whose judgment and honesty you trust who can recommend one. IMHO, there is no other way.

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On one of those FIRE blogs, I saw advice only network dot com mentioned. Fees seem to be in low thousands.

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I’m sorry. Can you tell me the url again. Is it adviceonlynetwork.com?

I have a team that can give you several options at no cost to you. I would need to get a better understanding of what your goals are with regard to retirement, reducing your taxable income, and family planning.

Let’s set a time to talk and see how we can best support your goals and protect your income & investments.

You’re absolutely right a lot of AUM-based advisors charge high fees and don’t always have deep expertise across taxes, insurance, and investing.If you want someone who works on an hourly or flat-fee basis, look for fee-only fiduciary planners they’re paid only by you, not through commissions or assets. A few great places to search:NAPFA.org The National Association of Personal Financial Advisors. You can filter for “fee-only” and even “hourly” planners.XY Planning Network They specialize in fiduciaries who work with Gen X and Gen Y clients, often with subscription or flat-fee models.

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