Q&A: Finding a fee-only advisor

Dear Liz: I need help locating a fee-only financial advisor. My search only comes up with advisors with investments.

Answer: It’s not clear what you mean by “advisors with investments.” Some fee-only planners charge a percentage of the assets they manage and often require you to invest a minimum amount with them. Others charge a monthly retainer (check XY Planning Network) or by the hour (visit Garrett Planning Network).

If you’re primarily looking for help with issues other than investing, such as budgeting or debt management, you could consider hiring an accredited financial counselor or accredited financial coach. Visit the Assn. for Financial Counseling & Planning Education. Another resource is nonprofit credit counseling agencies affiliated with the National Foundation for Credit Counseling at www.nfcc.org.

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  1. Larry Harlan says

    Dear Liz.
    Thanks for your answers every weekend in our daily newspaper, the Union Tribune, San Diego.
    We have a Trust question to ask as our Trust attorney has passed . Our Estate plan includes a Revocable Living Trust, that names both husband and wife as Trustees.
    1) When one of us passes, does the trust become Irrevocable ?
    2) At that time, does all securities, in the trust , receive a new ” cost basis “?

    Thanks again:
    Larry & Louise H.