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Subject:  Re: Talk me out of a Financial Advisor Date:  6/3/2013  7:34 PM
Author:  sykesix Number:  72400 of 78166

I'm curious, how many here who are highly critical of financial advisors have actually used a financial advisor? If not, where did you form your negative opinion?

My mother-in-law's financial advisor has done a poor job managing her money. She has an annuity (as discussed previously, aren't good for most people) and some expensive and under performing Franklin Funds. She's retired, but has no clear idea how much she can safely withdraw. She got hooked up with her FA years and years ago, and loved him until she retired and started needing money. Now she's sort of realizing there isn't really a plan, and she's a bit confused as to what to do and a bit embarrassed that she doesn't know. Isn't getting from point A to point B what you pay an FA for? I'm wondering what this guy was doing all these years beside cashing his commission checks.