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Author: ElCacique Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76238  
Subject: Financial Advisor? Date: 7/14/2001 5:59 AM
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Hi,

I'm 65 and drawing a small SS check, my wife is 56, quit her job teaching and will draw a small retirement check when she reaches 60 years old. I put my pension into an IRA along with my 401k when I retired. We have everything paid for, house, cars etc.
I have talked to several "financial advisers" some like American Express, A. G. Edwards, Edward Jones, and a small "fee only" firm that charges 1.25% and buys mostly no load mutual funds. I can also "buy" and hour ($100.) of this persons time and "validate" and get advice on the funds I own that I keep in Schwab and Vanguard.
American Express claims to offer many things, tax advice, budgeting, all kinds of financial advice and they take their fee out of "loaded" funds in the American Express acount. It really sounds good but I just have an uneasy feeling that the "fee only" firm might be far less expensive in the long run. Or I may just keep "validating" several times a year.
Love to have input on this.

Thanks, Tom
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