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Author: GLSHEFF Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76397  
Subject: Re: financial planner for advice on annuities Date: 3/1/2000 1:45 PM
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<<That being said, one tends to look for financial planners & CPA's in the same way. I would start with your: friends, lawyer, banker, current accountant, etc. to develop a list of recommendations. >>

In general I would not disagree with this advice however, I would like to relate how this worked out for me. I was considering early retirement with a substantial amount of tax deferred assets in my company sponsored retirement program. I saw several of my friends in the same company at approx my same age retire so I did indeed ask my friends to recommend a financial planner. Three responded with the same name and all spoke highly of this person. When I saw him he recommended a program to me which I then posted on this board for comments. I soon learned that this program was high cost and used dangerous comparison figures when estimating future returns. What I found was that my friends did not have any more knowledge than me and unlike me, they did not frequent the fool retirement boards to learn the hard truth about their financial advisor. I have said nothing to them because their arrangements are made and who am I at this point to tell them they have made a mistake? I feel very fortunate to have found this board before making a big mistake. Asking your friends may not be the best way to go.
GLSHEFF

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