Investment Advisors

Not sure this is the right board for this question.

Does anyone know of hourly-fee based financial advisors in the Puget Sound area?

NOT fee-based, but hourly-fee. That is they charge an hourly rate to review portfolios, etc.

I have become very cynical with fee-based advising, even when it is not very expensive on an pct of assets basis. After a year upon set-up the fees just become a fat coupon for the managers who do little work, in many cases. Worse, the advice is pretty much the same. Finally they don’t make money on your success, so they have to spend their time getting new clients.

Thanks,
–s

Check with Garrett
https://garrettinvestmentadvisors.com/

s,

I’m not from the Puget Sound area, so I cannot refer you to anyone in particular, but I can tell you what worked for us. We had a CPA to help guide our financial decisions for our small business and then worked with him for over 20 years on a personal financial strategy that included selling the business and many other strategic money matters. He charged on a hourly basis and never tried to high pressure us to buy anything that his firm may have been offering to other clients.

If you can find a trusted CPA in your area that can help advise you on various financial strategies (taxes, investing, real estate, etc.) and they charge an hourly fee, then I think that might be helpful to you as well. I see investing as only one part of a person’s financial picture.

Best,
'38Packard

  • retired at 57
2 Likes

In addition to Garrett http://www.garrettplanningnetwork.com/ see
National Association of Personal Financial Advisors https://www.napfa.org/
XY Planning Network https://www.xyplanningnetwork.com/

I worked with Irene at https://www.ijdevergreen.com (a NAPFA planner)

I am happy to discuss further by direct email.

Keith

5 Likes

We had a CPA to help guide our financial decisions for our small business and then worked with him for over 20 years on a personal financial strategy

Just a point of clarification, a CPA is permitted to give limited financial advice without registering as an investor adviser. CPAs can get in to trouble if they step over the line.

https://www.journalofaccountancy.com/issues/2001/aug/secjuri….

CPAs CAN PROVIDE LIMITED INVESTMENT ADVICE to clients without registering. The key question is whether a CPA’s investment advice brings him or her under the definition of “investment adviser” in the Investment Advisers Act of 1940. Even if the answer is yes, a CPA may still be excepted under the professional’s safe harbor.

…

THE ACT’S SAFE HARBOR EXCLUDES FROM the investment adviser definition any “lawyer, accountant, engineer, or teacher whose performance of such services is solely incidental to the practice of his profession.” The exception is not available to an accountant who acts as a financial planner.


2 Likes

Thanks all, this is good stuff.

I think our CPA is probably too careful to extend himself in this direction. He does a great job but heretofore has been reluctant to suggest courses of action.

I will check Garrett and the other websites.

Best to all…

–s

My nephew used this guy and was happy

http://www.lifepointplanning.com/

It’s per month not per hour, with no contract (cancel anytime). Doug Oosterhart. The thing you gotta watch is the ones who charge a percent of “assets under management” and drain 1% or more per annum. This guy does not manage your assets you put them in vanguard or fidelity or whatever. He was a big help on tax issues.

Charged $300/month a few years ago. Seems reasonable.

2 Likes