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  1. #1
    Member rds_nc's Avatar
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    May 2011
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    Financial Advisors-how to pick and what questions to ask?

    So my wife and I are in a position to need a financial advisor. Mostly b/c of inheritance stuff from my dad last year and her mom this year. A variety of insurance, accounts, property sales. Mainly looking for help from a pro on how to navigate the tax issues. So how do you pick one? A fiduciary is a must, right? And I know there's fee based vs commission based but beyond that I don't know much. I'm thinking one of the big boys Schwab, Edward Jones, etc so they can't just disappear. Up to this point it's mostly been sticking money from each paycheck into retirement accounts so it's been pretty straight forward.
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  2. Member
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    Jun 2009
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    #2
    One thing to consider.

    From your inherited funds, Look into moving the maximum amount each year into a Roth IRA.

    This would be for both yourself and your spouse.

    Keep doing this each year.

  3. Member
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    Oct 2017
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    #3
    Plenty of people here with more experience in this than me, but I used Dave Ramsey’s “endorsed local provider” search on his website… I’m in an area where I don’t know families, history of business, etc. so aside from reading reviews it’s just been a good way to search for professional operators whether it’s accounting, insurance, financial services.
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  4. Member
    Join Date
    Nov 2013
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    #4
    CPA CFP fiduciary to help navigate the tax issues, brokerage once you've cleaned it all up.
    In your particular situation, I'd recommend finding a local person to assist with taxation.
    I'd not invest thru them, I don't like peeing in my own yard, per se. Keep things separate.
    The reasoning for a CPA CFP is so they understand the intricacies of the various property.