the Price of Retirement Planning Services

I had been attending seminars from my work and one was on financial planning for retirement. My wife and I decided to meet the financial planner who gave the presentation. After two meetings we decided to use his service to establish a financial plan for retirement. The initial cost of the meetings and planning was $1,400.

If retained, there would be an annual fee plus a percentage of the investment value.

The services we received were probably worth the cost. The reports given to us were professionally prepared and well presented in a personal meeting. They were presented in a logical manner showing different results tht could be expected under various investment choices. During our early conversations I gave him my thoughts on investing for retirement and his recommendations were just about the same as my suggestions. I was disappointed in the fact that he seemed to just be showing my ideas in fancy package. For the expense, I feel it was a fair value based on the time involved but I don't feel I received any real new ideas for my retirement investments.

I would suggest that you meet at least twice, at no fee, with any prospective financial advisor prior to making a final decision. Also, ask for references other than from your place of employment. If you read financial publications, watch/listen to TV financial programs, you will be much better able to handle your own retirement plans. This does not mean you should not seek financial advice, but do your homework first. Also, all the major mutual fund companies offer free finacial planning services to those clients with a certain value of investments.