Where can I find a good financial Adviser for my IRA?

Question

My IRA is a combination of 401k rollovers and has been with Wachovia for the past 3 years. The past 6 months, my financial adviser and I have had a couple interactions and he just doesn't seem interested in my questions or opinions. Furthermore, I feel he is pushing whatever "canned" investment ideas are coming from his boss, without any true insight. I pay a flat 1% annual fee for his services.

Does anyone have any advice/opinions on alternate investment ideas. I am willing to pay a professional for their services, but I like the % plan. If their ideas make me more money, they get a bigger share.

Thanks

Answer 1

My advise to you is to sit down with your current adviser and discuss you concerns with him as well as you expectations about your business relationship.  Also you need to inform him what your investment goals are, so he can help you in the future.  I just get the feeling that you guys don't have any relationship at all that he why his advise may feel mechanical to you.  So sit down with the guy and find you who he is.  Remeber that relationships are a two way street.

If you then feel at odds or you just feel like this guy is just not that bright then interview a new adviser.

Answer 2

I only encourage Suze Orman's books along with others who are great in the field.  Check out the website!!  Best to changing a better advisor for your financial future.

Answer 3

I would have Wachovia transfer the account to a different adviser.  Explain to management you are unhappy with the current one.

I am quite happy with Charles Schwab.  But again this works if you get someone who listens.

Answer 4

Whenever you have an advisor who have incentive to sell you certain products, you will never get a complete objective advice.  

Hourly financial advisor is the one come closest to be objective, other than try to manage yourself.

You can go to Garrett Network to look for a hourly advisor in your area http://www.garrettplanningnetwork.com/pa...

Alternatively, pick a number of Vanguard mutual funds and a target fund create your own retirement portfolio.  Vanguard funds are generally low fees and fairly good performance.  http://www.vanguard.com/

Feel free to contact me directly if you have more questions.

Best wishes.