Okay, I know there is no magic number for this, but at what net worth should someone seek a financial advisor? 50k? 100k? 1mil?

I am very comfortable with my financial planning, but I can't help but wonder how much better I might be doing by seeking a professional. I mostly deal in no load mutual funds and some conservative individual stocks right now. Doing my own research and making decisions is actually fun for me, but I don't do it full time.

I'm currently reading Graham's book "The Intelligent Investor," and want to learn more about individual stocks. Would it be better to leave it to a pro? So far I have made decent decisions on my own. My portfolio made over 22% last year.

My opinion is that when you have money to invest and have them advise, hire one. Why not talk to someone of for nothing else just to gain knowledge and hear a different perspective.

Okay, I know there is no magic number for this, but at what net worth should someone seek a financial advisor? 50k? 100k? 1mil?

I am very comfortable with my financial planning, but I can't help but wonder how much better I might be doing by seeking a professional. I mostly deal in no load mutual funds and some conservative individual stocks right now. Doing my own research and making decisions is actually fun for me, but I don't do it full time.

I'm currently reading Graham's book "The Intelligent Investor," and want to learn more about individual stocks. Would it be better to leave it to a pro? So far I have made decent decisions on my own. My portfolio made over 22% last year.

The correct answer is you should have one if you have a financial goal of any kind...net worth does not matter. A true financial advisor goes into things other than your investment performance....so if you have debt they will help you get rid of it...if you have protection needs they will address them...if you have a $5k tax refund they will help you figure out how to make that into monthly cash flow instead of giving the gov't a free loan for the year...so seek one out and make sure the have a series 7 (brokers license) and a series 66 (this makes sure they due what is in your best interest!).:cheers

What is the normal cost/charge of a good financial advisor? Is it percentage of your earnings or is it a flat fee?

What is the normal cost/charge of a good financial advisor? Is it percentage of your earnings or is it a flat fee?

completely depends on the company and advisor...for a basic client with very little to do except semi-annual meetings and rebalancing you are looking at a few hundred dollars...if you want comprehensive planning and have any kind of assets a little more probably...but look at it as an invesetment in your future...it will probably cost you less than the crap we put on our bikes every year lol

22% damm thats awesome. i wish i had someone to be able to talk to about investing more. for the most part my money rots away in a saving account barely keeping up with inflation. my main investment right now is my house, and im looking to get another. the stocks and mutual funds are too intimidating for me and im sketchy on hiring an investor that is working for me, for HIM.

22% damm thats awesome.

Yeah, but I've been getting pounded the past two weeks! :hammer

OUCH!

NO SHIT, About getting pounded the last two weeks!!!! I haven't lost this much money in two weeks since............ NEVER. I guess that is why your in for the long run! Let's hope the market turns better this week!

NO SHIT, About getting pounded the last two weeks!!!! I haven't lost this much money in two weeks since............ NEVER. I guess that is why your in for the long run! Let's hope the market turns better this week!

you said it...your in it for the long run(given you are young enough to be in it for the long run). BUT make sure your portfolio is PRO-active and not re-active. You should not have to go sell off just because the market loses a couple of percent. you may lose a little money, but if you dollar cost average and rebalance annually....you will be fine. if you don't understand what i mean about being proactive then either read about asset allocation or hire a professional. if you have someone put together a good portfolio then you will more than break even even with a large fee....but brokers who are only brokers aren't the people to go to.:punk