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What I don´t agree with is to hire some professional adviser at a cost of X% of portfolio assets so he/she can put your money into very costly managed mutual funds or worse, a fund of fund of very expensive managed mutual funds.

Nor would I agree with a manager who will put your money into individual stocks and bonds and then procede to turn your portfolio over X amount of times per year to pad his/her pockets with commissions, Wall Street´s with spreads, and Uncle Sam´s with short-term capital gains taxes.

I've talked to lots of financial planners in trying to find the right one for us. I have used 2 of them, and both had the same commission model. I pay a percentage of my portfolio value, and that is the total commission. I don't pay a commission for each trade on top of that.

The first planner I used had me in individual stocks. This one has me in a lot of ETFs. Neither of these choices qualify as 'very costly mutual funds' or ' a fund of very expensive managed mutual funds.' I'm sure there are planners out there that do this, and perhaps I didn't get one of those because I was specifically avoiding such a model, but I do want to point out again that there are financial planners who don't get paid more commission on top of their management fee.

As far as taxes, both of the folks I have worked with, and in fact all of the planners we have talked to, handle my IRA money. That's what they where they typically want to start because there are no tax issues to worry about. At the time that I move over taxable funds, I will have to deal with taxes, but I'm working with someone who is definitely very sensitive to that.

I realize that the vast majority of responses on this thread are against using any type of financial planner, but the original question was about choosing one after you've made the decision to use one. For us, we made the decision to use one probably a good 10 or 12 years ago. I test drove one about 5 years ago for just over a year, and then it took me another couple of years to try another one. We've been with this guy just over a year and he's a keeper, but look how long it took me to find someone suitable for me. Part of that was just to find someone who isn't like what you described, and I can attest that good folks are definitely out there.
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