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Author: richclar Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75821  
Subject: Retirement Planning Date: 2/2/1998 12:17 PM
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Who is a good fee-based CFP in the Tidewater, Richmond, Va area?
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Author: HarryA One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1587 of 75821
Subject: Re: Retirement Planning Date: 2/2/1998 5:14 PM
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richclar wrote:
<<Who is a good fee-based CFP in the Tidewater, Richmond, Va area?>>

richclar,

As I understand it, the whole point of Fooldom is to provide an environment where we can learn how to take charge of our own portfolios. TMF attracts the kind of investor who isn't willing to fork over hard-earned cash to let someone else plot our financial future or make investment decisions for us. Thus, you may have a hard time finding the kind of recommendation you seek from anyone on these boards.

You might be interested in hopping over to the Cash-King board to follow a thread begun on 1/28/98 titled "Stocks? CFP says NO!". There is an especially good response from Oak on the Foolish attitute toward paid financial planners.

Just to add my own 2-cents, you should bear in mind that the financial planning industry is still entirely unregulated and therefore populated by just as many scammers as the home improvement and auto repair industries. You have the right idea in looking for personal referrals, I just think your looking in the wrong place.

Also keep in mind that just because a planner is fee-only vice commission, it doesn't guarantee they'll have your best interest at heart. Anyone can pay a few bucks to take a course, get a few initials to hang after their name, and call themselves a professional planner. If you haven't done so already, be sure to look up the article in Jan 98 Consumer Reports titled "Financial Fixers & Fakers". They also list some phone numbers & web sites for referrals.

You might also give AAII a try. Their website is at www.aaii.com. There are two chapters in Virginia: Hampton Roads and Richmond.

Finally, you should walk, drive, or click over to your favorite bookseller. Even if you're hellbent on hiring a planner, you should still read The Motley Fool Investment Guide, You Have More Than You Think, and the Motley Fool Investment Workbook. Who knows; after reading them (and hopefully a few other books, too), you might find that you don't really need to hire a pro after all. At the very least you'll be better prepared to evaluate any advice your planner provides you. Good luck!

Cheers,
Harry A.
Your Foolish neighbor in Chesapeake

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1595 of 75821
Subject: Re: Retirement Planning Date: 2/2/1998 6:40 PM
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HarryA,

<<As I understand it, the whole point of Fooldom is to provide an environment where we can learn how to take charge of our own portfolios. TMF attracts the kind of investor who isn't willing to fork over hard-earned cash to let someone else plot our financial future or make investment decisions for us. Thus, you may have a hard time finding the kind of recommendation you seek from anyone on these boards.>>

Well said, Fool! And good suggestions for Richclar, too.

Regards…..Pixy


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Author: Bocephus Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2774 of 75821
Subject: Re: Retirement Planning Date: 4/13/1998 1:09 AM
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<Who is a good fee-based CFP in the Tidewater, Richmond, Va area?>

I don't have a good answer for you but would request that you read my fee-only CFP horror story that I recently posted in the "My Dumbest Investment" board.
I titled it "Dumber than an Investment". As another poster replied, this is an unregulated new industry. I can personally assure you the law is very little help if you are scammed. Be careful out there!

Bocephus

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