All that we hear about when we read financial pieces about hiring advisors is, “Ask about the fees,” and “Hire a Fee Only Advisor.” Sadly, the former and current advisor who operate this podcast know it isn’t that easy. There are fee only advisors who are morons and a cheap fee means nothing if you find zero value in your “low fee” advice. So what SHOULD you ask? Today we gather together some of our favorite pros to ask them. What questions SHOULD people ask (but don’t)? What should people look for in a good advisor? What are the things you should expect a good advisor to actually do for you? When is the right time to hire an advisor? We’ll ask these and many more questions of Dana Anspach from Sensible Money, The Retirement Answer Man, Roger Whitney, and our very own OG.
But that’s not all. We’re excited to hear today about one of the hottest companies in FinTech, SoLo Funds. Travis Holoway joins us on today’s show to talk about lending made easy for people who traditionally struggle to find funding to make ends meet. Whether you’re a lender or borrower, you’ll want to hear about this company.
Our Featured Topic: Finding a Financial Advisor or Planner – The Insider Secrets (Investopedia)
When looking for a financial advisor you’ve probably heard of the usual advice: the commission vs. fee only question, the making sure your advisor is a fiduciary… but how can you be sure your advisor is even good at what they do? On today’s show we’ll get our expert roundtable to tell you their insider secrets, PLUS deliver a load of information that’ll leave you feeling confident the next time you’re looking for an advisor.
Our Contributors:
Dana Anspach
A big thanks to Dana for appearing on today’s roundtable! You can find more from Dana at her site: SensibleMoney.com
Roger Whitney
Another big thanks to Roget Whitney for appearing on the show today. You can find more from Roger at his site: RogerWhitney.com/
OG
For more on OG and his firm’s page, click here.
Our Featured Fintech Company: SoLo Funds
A big thanks to Travis Holoway for chatting with us today about SoLo Funds. Interested in learning more? Check out their site at: Solofunds.com
Doug’s Trivia
- How much does it cost to run Disneyland each day?
I tried SoLo Funds and thought fellow listeners would like a review. My experience with them was not good at all. I loaned out a total of $3,000 and used their SoLo protection feature on most. 7 out of 25 loans (28%) did not pay back on time… If you use the “protection” feature – you don’t get your $ back directly, you just get a credit and have to re-loan out the funds to try to make yourself whole (this was not made clear up front). And THEN, if the person pays back anytime, even as early as THE NEXT DAY (so only 1 day late), SoLo keeps all the $ including the lender tip PLUS the $ the lender pays to SoLo for the protection in the first place. Needless to say, once I’ve used all the credits, I’m cancelling my account.