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From: bruceco@shark.UUCP (Bruce Coorpender)
Newsgroups: net.invest
Subject: Re: Looking for info on "financial planning"
Message-ID: <1626@shark.UUCP>
Date: Fri, 17-Jan-86 15:43:37 EST
Article-I.D.: shark.1626
Posted: Fri Jan 17 15:43:37 1986
Date-Received: Mon, 20-Jan-86 04:07:04 EST
References: <1080@druxo.UUCP>
Reply-To: bruceco@shark.UUCP (Bruce Coorpender)
Organization: Tektronix, Wilsonville OR
Lines: 39
Summary: 

In article <1080@druxo.UUCP> rob@druxo.UUCP (MitchellRJ) writes:
>
>	Recently I've been looking into "financial planning"
>	and "financial planners" to attempt to prepare for the
>	inevitable (don't ask what is inevitable, but something must be).
>	Has anyone out there used the services of
>	any "financial planners" (particularly fee-for-plan types),
>	and if so has the information you've gained been of
>	sufficient value to justify the cost. (So far I'm not
>	convinced it would be).

I have retained the service of a 'plan for a fee' type of advisor. I 
talked to several at brokerages, and to my lack of surprise found that
they usually recommended that I purchase securities thru them. I was
not enthusiastic about a plan from someone whose income depended on
my implementation of the plan. 

The plan for a fee guy seems OK. I am getting an education in regard
to the many forms of instruments available. The fee was $1K for a
plan and ongoing advise and recomendation for 1 year. Given that the
fee is tax deductable, it find it reasonable for what I am getting/learning.

This advisor focuses on retirement plans, and I find that he has a
short-sighted view of tax shelters. That is that he recommends 
RELP (real estate limited partnership) and equipment leasing investments
when my analysis of "real" invested $ (as opposed to tax $) only
gives a return of 15% +/-1%. That doesn't thrill me when the deal is
often tied up for 7+years.

On the other hand he has affirmed my confidence of my strategy of using
IRA, 401K, and mutual funds. 

My intent is to manage my own funds, and feel that the review of current
investments and recommendations was worth the $1K. I wouldn't expect
to find one for that price range that will lay out a detailed plan,
do all the return analysis, and implement the plan on your approval.
Besides, that part is the fun stuff.

BC