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Lane, JD, CFP, MBA
Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
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Experience:  Providing Financial, Tax & Business advice since 1986
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my queastion is who can i trust to manage my money for me to

Resolved Question:

my queastion is who can i trust to manage my money for me to invest? is there financial firms i can trust to manage my money who my best interest?
Submitted: 1 year ago.
Category: Finance
Expert:  Lane, JD, CFP, MBA replied 1 year ago.

NPVAdvisor :

Hi,

Customer:

hi

NPVAdvisor :

How involved do you want to be ... If you're simply looking for a custodian/broker and you want to do all of the trading .... these are all regulated by he SEX and are insured by SIPC so you really have nothing to worry about

NPVAdvisor :

NUT if you're wanting to kind of turn he money over tosomeone you need to be VERY careful ... this is called giving someone "discretionary trading authority."

NPVAdvisor :

BUT ...

NPVAdvisor :

sorry for all the typos SEC was supposed to be SEC (Securities and Exchange commission)

NPVAdvisor :

Probably the most successful firm I have ever used (and also one of the least inexpensive is DFA (Dimensional Fund Advisors)

NPVAdvisor :

mainly because of their reliance on research ... see this: http://www.dfaus.com/firm/academics.html

NPVAdvisor :

(byt the way I have no association with them ... my observation, however, is that they are one of the least expensive and still remain most successful

Customer:

but is there someone firms who can manage my money in fiduciary standandars

NPVAdvisor :

DFA follows the fiduciary standard FURTHER will not let advisers use them who do not follow the fiduciary standard

NPVAdvisor :

Let me look up someone in the MN ares who uses the fiduciary standard and uses DFA as a part of their investment line-up (this should yield an excellent choice) ... just a minute

NPVAdvisor :

Can you give ma zip code? or a zip code, say, within a 30 Mi radius?

Customer:

55454

NPVAdvisor :

Dan Katan, CFP®
Watchdog Financial Advisors,XXXXX N., Ste. 300, Minneapolis, MN, 55401
Directions | Website |dan.katan@watchdogfinancialadvisors.com
Phone: 612-284‐9325

NPVAdvisor :

THis one, simply because he's a member of NAPFA, (required to use the Fiduciary standard) CFP and fee only ... meaning he acceps no commissions (works for the client not the broker or advisory firm)

NPVAdvisor :

Hang onl

Customer:

so can they manage my money for me since iam no expert in financial

NPVAdvisor :

Yes let me give you a few more, then you shoul interview them all ... at least by phone

NPVAdvisor :

I will look for (1) expertise, (2) fee-only (3) Member of NAPFA (4) professional designations such as CFP, CPA, JD

NPVAdvisor :

One of the principals here is CFA (Chartered Financial Analyst) the pinnacle, regarding investment management: http://www.clerestoryadvisors.com/

Customer:

so all this firms do they manage the money for you or they just give u advise

NPVAdvisor :

They can do eiter, according to the engagement you choose

NPVAdvisor :

This one, is both CFP AND CPA .. strong combination: http://www.money-matters.us/

NPVAdvisor :

These are very good ut have a 1,000,000 minimum: http://www.whiteoakswealth.com/fees/

Customer:

u mean i have to have one million

NPVAdvisor :

YEs

Customer:

but if i don't have that much money

NPVAdvisor :

Here's one more ALSO strong credentials and meets that minimum criteria of fee-only (works for the client , not a distributor of product that charges a commission): http://www.galliganfinancial.com/new/galligan/default.asp

NPVAdvisor :

That's why I mentioned it THos folks are the only ones here with that kind of minumum

Customer:

but can i invest lesser money to be managed

NPVAdvisor :

less, as i said only the one where I mentioned the minimum has that kind of minimum

NPVAdvisor :

The pothers do not

NPVAdvisor :

"others"

Customer:

how about fidelity

NPVAdvisor :

Fidelity is a mutual fund family ... all of these advisers have acces to fidelity

NPVAdvisor :

As I first said, If you want to do it yourself without outside advice I would look at Fidelity, Vanguard, T. Rowe Price, American Funds

NPVAdvisor :

but all of those fund families have LOTS of mutual funds.... all having a different objectives

NPVAdvisor :

Typically one maximies returns and minimuzes risk byt using a portfolio ( group) of different funds

NPVAdvisor :

or other investsments

NPVAdvisor :

that;s what these folks can help with:

NPVAdvisor :

These are the ones I would look at first.... in terms of advice AND management

NPVAdvisor :

And these are the families I would look at if you just want Funds and want essentially to do it yourself:

NPVAdvisor :

Mutual funds DO have manager (or a committee of managers, but are constrained by the fund's objective) ... the name mutual fund comes from all of the investors in a particular fund having a mutual objective (such as buying large company stocks)

Customer:

what can i do if i don't have one million dollars can be managed if is less than that

NPVAdvisor :

Thos last three firms AND that list of unds DO NOT HAVE an investment minimum

Customer:

which last three

NPVAdvisor :

Only the one advisory firm (which I took out of the list had that minimum) I will now re-list the three firms and the link to the list of low cost mutual funds.... and again, NONE of these have a minimum

NPVAdvisor :

All of these will work for you, regardless of how much you have to invest

NPVAdvisor :


These are the ones I would look at first.... in terms of advice AND management







1:36 PM



And these are the families I would look at if you just want Funds and want essentially to do it yourself:




NPVAdvisor :

Use your scroll bar if you can't see everything

Customer:

so these last three are financial firms who manage money for their clients and have best interest in their clients with no minium

NPVAdvisor :

that's correct ... all have credential AND membership that requires the use of a fiduciary standard

NPVAdvisor :

I would just call them up and ask if you can ask some questions regarding how they work... then you can go from there

Customer:

but the ones u gave me before have one million minium

NPVAdvisor :

NO ... only that one firm had the minimum and they are not in that last list

NPVAdvisor :

Also, here is the site for NAPFA, (National Association of Personal Financial Advisors) if you want to do your own search ... you can search by zip code ... but I would then narrow my search by having a CFP and the an additional designmation such as CFA or CPA ....... http://napfa.org/

NPVAdvisor :

How else can I help you today?

Customer:

thank you

Customer:

atleast i know who to trust

NPVAdvisor :

You're very welcome

NPVAdvisor :

If this HAS helped, I would appreciate a feedback rating of 3 (OK) or better … That's the only way they will pay us here.


HOWEVER, if you need more on this, PLEASE COME BACK here, so you won't be charged for another question.

NPVAdvisor :

If that's it for now, I'll move us to the Q&A mode ... that way you can see everything on one screen

NPVAdvisor :

Also you can come back to the links here to look at the various advisors and funds sites

Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4532
Experience: Providing Financial, Tax & Business advice since 1986
Lane, JD, CFP, MBA and other Finance Specialists are ready to help you
Expert:  Lane, JD, CFP, MBA replied 1 year ago.

Thank you so much Mohamud.


If you'd like to work with ME again just say "For Lane only," at the beginning of your next question.


Thanks again
Lane

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Lane, JD, CFP, MBA
Lane, JD, CFP, MBA
JD, MBA, CFP, CRPS
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Providing Financial, Tax & Business advice since 1986