Finding a ‘Fiduciary’ Planner in a Sea of Snakes

In today’s show, I also discuss the Lasik Surgery that I had last week. The procedure went very well and I can’t say enough positive things about my doctor, Dr. Alan Kozarsky, and his team at Piedmont Better Vision. While I wish Dr. Kozarsky was a client, I’m not working with him and he’s not compensating me for my praise. I just feel that exceptional service should be recognized.

Being a financial planner myself, I loved an article that The New York Times featured over the weekend, "Pick a Planner Who Can Spell ‘Fiduciary’". For those who don’t know me, let me assure you that while I might not be a great grammarian, I definitely know, understand, and can spell the word ‘fiduciary‘! 😉

In all seriousness, the article touched upon some interesting thoughts that I often hear from prospective clients:

What, exactly, does a financial planner do? How is that different from the role played by a stockbroker or investment adviser? What might be the signs that I could benefit from hiring a planner? And, if I decide to engage one, how do I find a competent and reputable one? How will they charge me and what’s a reasonable fee for their work?

Check out the article and then listen to my thoughts about what it means to have a fiduciary responsibility, why most experts favor fee-based planners over those paid on commissions, how to vet out a planner’s certifications and credentials, and how to ensure your planner is looking out for your interests.

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