How and where can I find a good financial advisor and how much does it cost ?

Regardless who you end with, make sure she/he charges for her/his services. If it’s free it means they the make their money on commision so you’ll be subject to the possibility of being offered unnecesary stuff they’ll try to get you to buy so their commision is higher. I’m sure there are ethical on-commision advisors but better to tilt the scale to your side right from the beginning.

Go to your local Public Library and check out one of the dozen of books on the subject
(the ‘Personal Finance for Dummies’ is a good start).

the definition of a financial advisor is “one who sells financial products for a commission”. Like an overpaid insurance sales person.

they do not have your interests at heart.

You have two choices and this is what it all boils down to. A good financial advisor is going to be paid very very well. He or she works with large sums of money, hopefully all you have, and he is going to bring great value to you by preventing you from making mistakes and by directing you to take advantage of financial devices that will benefit you and increase your assets and income.

You can either pay him directly or you can allow him to take payment from a provider firm.

If you want knowledge and service, plan to pay $10,000 for starters, from your pocket. If you want the same knowledge and service, allow the advisor to explain to you how he can direct the provider to pay him.

I’m in the business and have been for 30 years. You wanna talk to me, its $10,000. Your choice as to how it gets paid. No, its not your choice because I know that if you’re gonna be so anal about this as to spend your own money when you dont have to, I probably dont want you as a client.

Another answer for you on this question.

There is no formal education for a financial advisor similar to the three years of education that an attorney gets. Just doesnt exist and dont let someone tell you that Certified Financial Planner Designation is good education. It’s minimal at best.

Brokerage firms do not educate financial advisors. They do not even train them. They indoctrinate them to do things that are profitable to the firm, and the client be damned. But they are mighty damned effective at indoctrinating…and the results is that they send out their reps to screw the public.

Look for someone who has been around for years, because the only way to get and education is to learn it for yourself. Also talk to at least five because many specialize in arcane niches that fit their background perfectly, but not your needs.

One question to ask is, “what are the steps you follow to develop a plan for me and how will that benefit me?

You yourself also have to be educated though. Most of the public thinks they can handle this task just fine themselves, having no idea what they don’t know.

I have a physical trainer. Ive been in the gym for 15+ years and know how to use every weight and every machine in there. However, I always get a better workout when my trainer is guiding me and telling me what to do and changes he wants me to make. I am over 60 and have been training with a trainer for so long and so consistently that I would gladly match and beat any average 40 year old. Im in great physical shape because I HAD SENSE ENOUGH to go to someone who knows more about it than I do and follow his advice.

Many people dont do that with their money. They think they know it all. It is what I call “arrogant ignorance”. And they always lose in the long run.

On the training thing, even my trainer says he gets a better workout if he has HIS trainer with him.

It ALWAYS helps to have a third party even if you are very good at it.

Same reason an attorney who tries to represent himself is recognized to be a fool.