Liz Weston: How to find a fee-only financial planner
Updated Apr 11, 2021;
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By Liz Weston
Dear Liz: You often recommend in your column to seek the advice of a fee-only financial planner. Where would I find such a financial planner? Our understanding is that a person has to have at least $1 million of savings to invest before a “fee-only” financial planner will consult with you. Can you be more specific?
Answer: Once upon a time, it was difficult to find fee-only financial planners if you didn’t have a lot of money to invest. Many required you to invest at least $250,000 and charged 1% of those assets annually.
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As her parents grew older, Carol Marak saw how they relied on their three children for care and knew that wouldn’t be an option for her. Without a partner or children, she would have to build a different future for herself.
Marak, 69, of Dallas, decided she had to learn as much as possible about how to age without close relatives to lean on. As one prong of that effort, in 2016 she started the private Facebook group Elder Orphans. Within a month, the site attracted about 1,000 members. It now has close to 10,000, who offer each other advice, resources and sometimes a shoulder to lean on. “It just keeps growing,” says Marak, who also runs a website with tips for the “solo and smart.”
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How the pandemic made working with a financial planner easier
You don’t need a huge savings account to find a fee-only financial planner willing to work with you.
(Associated Press)
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Dear Liz: You often recommend in your column to seek the advice of a fee-only financial planner. Where would I find such a financial planner? Our understanding is that a person has to have at least $1 million of savings to invest before a “fee-only” financial planner will consult with you. Can you be more specific?
Answer: Once upon a time, it was difficult to find fee-only financial planners if you didn’t have a lot of money to invest. Many required you to invest at least $250,000 and charged 1% of those assets annually.
PGIM India MF and WFAN launch scholarship program for aspiring women financial advisors
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Last Updated: Mar 08, 2021, 10:53 AM IST
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Synopsis
On the occasion of International Women’s Day, the Women Financial Advisers Network or WFAN has entered into an agreement with PGIM India Mutual Fund to launch a scholarship program for women.
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On the occasion of International Women’s Day, the Women Financial Advisers Network
or WFAN has entered into an agreement with PGIM India Mutual Fund to launch a scholarship program for women. WFAN aims to focus on women with a decade or more of corporate experience, who are now ready to launch their second career as a financial advisors. The program kicks off on March 08 with acceptance for membership applications. The launch date for the training program is scheduled to begin on April 14, 2021.