Financial Planners in Arlington Heights, IL

Under $100 k is not worth it to a CFP. Just being honest here. For that amount of money, read [the prime directive](https://www.reddit.com/r/personalfinance/wiki/commontopics).

The national association of professional financial advisors (NAPFA) is a good place to start. All members are fee based, fiduciary advisors. napfa.org

The advice on this site is general best practices. Read the guidance you see hear, and then try to make a conclusion if you think it's applicable to your case. If there are some unusual or extenuating circumstances that are not the norm, a financial planner can clarify these matters for you and it may be worth getting some advice by the hour. My inclination is that is probably not the case. My general advice in evaluating whether you need a CFP or not is the following test: is there something unique, unusual, or complex about my situation that falls outside of the traditional norms and general best practices? If so, you may want a CFP. If not, follow general best practices.

Read. Read everything you can about financial planning and learn how to do it yourself. If you are knowledgeable you don't need one or you can spot one that is just trying to screw you over.

It's probably not worth a financial planner but talking to a CPA once to discuss any tax implications may be worth the effort.

In addition to NAPFA (mentioned by others) you can check the background of any financial planner through the finra website Finra.org Use the brokercheck service or the 'for investors' tools on the main screen to help you make decisions. You can ask for a quote from a planner before hand and find one you feel comfortable with / you can afford. Some have sliding scales for fees, others don't. It pays to call around. Certainly check the sidebar: most of this is able to be done by you, the planner will just be a resource and be able to guide you in a more precise way. Self repair a car vs. Take it to the mechanic.

You'll probably want to roll them into an Inherited IRA (Beneficiary IRA). Not a 401 k. Fidelity (or similar) can help you do that. Call Fidelity. Then once they are in there, invest the money in VTI. You need to take out a certain amount of money each year. How much and when depends on your relationship with the original owner - e.g. if it was your spouse, (husband/wife) the rules are different. Fidelity can also tell you this, and you can google the rules.

You cant roll inhereted IRAs to a 401 k. Even whenit comes to rolling funds you dont need to lose money to pay someone to do that. You may want a tax pro to advise you how to roll to get the least tax hit but thats it.

You have absolutely no need of a financial planner - the only way they can make small balance investments worth it for them to service is by selling you bad products like whole life and annuities, along with high fee funds. Read the sidebar here, all you need at these balances.

This is a pretty good question list: https://smartasset.com/financial-advisor/questions-to-ask-a-financial-advisor Good places to look for fee-only planners are napfa.org, Garrett Planning Network, and XY Planning Network.

try and get in touch with easeasymakesolution.net they are perfect on that....

For most people, the correct answer is to avoid them. Most people don't need a financial planner. A lot of them are actually salesmen, trying to get you to buy insurance or expensive investments. If you absolutely need one, look for a fee-based fiduciary (so they make their money solely from your charge for the meeting, not by pushing you toward certain investments or purchases because they make a profit doing so).

look for a fee-only advisor. This ensures the financial advisor has his/her interests aligned with yours as they do not receive commissions based upon products you invest in

Mike Angelucci is great! He was on his own but recenetly joined Level (https://levelfa.com/awm). We worked with him last year and thought he was excellent.

Many financial planners play in tennis, bowling, ice hockey and soccer leagues

We had a good experience with DRW Financial - https://www.drwfinancial.com/

https://www.napfa.org is a good place to start a search for fee only advisors

PLEASE make sure who you choose is a fiduciary and not some shady con artist! https://money.usnews.com/investing/investing-101/articles/what-is-a-fiduciary-financial-advisor-a-guide-to-the-fiduciary-duty

I have no advice to offer beyond avoiding Suntrust private wealth management like the plague. Best of luck!

Hopefully you get some names, but worst case scenario I would check on napfa.org, they will be able to point you in the right direction.

Marsh Wealth Management is really solid. They are fiduciaries as pointed out below... very important.

Thanks so much for the tips!

Jim LaPinska at northwestern mutual is awesome. Have changed financial planners a few times moving around the country and hands down best one we have had.

www.feeonlynetwork.com www.napfa.com Two good sources to start your search.

Google "Fee only fiduciary charlotte" On the phone, confirm that they are fee only and a fiduciary as your first questions. If they say no, just hang up.

Do you mind me asking how much you make/how large your portfolio is? Many (most?) individuals seeking financial advisors don't need them.

Your boss would do better asking his CPA or attorney for referrals. If your boss doesn't have a trusted attorney or CPA, he should start there first. This isn't a bad place to start - NAPFA - The National Association of Personal Financial Advisors https://www.napfa.org/

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What's his commission on the LTC policy? I believe that will help determine his motivation to sell it. After all, if he's already received his one-time fee, how else can he benefit from you other than selling you products that pay him to do so?

Fire the salesman.

Is it a conflict? Probably. Did he fully disclose and is conflict waivable? Maybe. Did he tell you what his fee is? Without out that, it feels to me like he hasn't made full disclosure. It's been a long time since I looked at it, but I think insurance agents get a large percentage of your first year premium as their sale commission, so it's worth knowing. For what it's worth, it sounds like he's not a fiduciary. See [National Association of Professional Financial Planner](https://www.napfa.org/) website for list of fee only, fiduciary financial planners.

IMO, yes. If you want to shop for LTCI, go through a broker who will take your info and compare offers /policies from multiple companies.

So just to be clear...You should ALWAYS believe that the person giving you financial advice has a conflict of interest. 100% absolutely they do. However, some planners - - those registered with the U.S. Securities and Exchange Commission as an investment adviser (sorry I don't know the equivalent for other countries) - - have an obligation imposed by the law that says they need to disclose the conflict of interest and seek to minimize them. Usually this means they seek to put the needs of their clients ahead of their own. Regulation BI recently imposed a similar standard on brokers who are registered with the SEC. ​ You can see if your financial planner is registered as an investment adviser here: [https://adviserinfo.sec.gov/](https://adviserinfo.sec.gov/) You can see if your broker is registered here: [https://brokercheck.finra.org/](https://brokercheck.finra.org/) Whether the move you describe above is right for you depends on your unique financial standing. But before I listen to anyone I would make damn sure that they were legally required to have put my interest ahead of their own.

I’d get a second opinion. My CFP, a fiduciary, isn’t high on LTC policies.

It sounds like there is separation between what you hired the FP to do and the offer of a product so I don't think it is a conflict per se... The question is if you agree with the FP analysis that a LTC policy is a wise move. Then you can compare the products on the market and make a decision.

Is it a Lincoln product by chance? How much did you pay for a plan? How did he evaluate the insurance? How did he determine LTC needs? \*Yes, this smell like a bait and switch. Ask him if he is a fiduciary to you? Please tell me he at least has a CFP?