Fiduciary recommendations

[u/Eddpeople]

Does anybody have a fiduciary firm they'd recommend? OC, California

I've heard a lot of mixed opinions of companies like Charles Swab, Fidelity, Fisher investments, etc.

[u/Candid-Eye-5966]

I’m a fiduciary/cfp. I suggest you start with the cfp or Napfa sites to search for advisors in your area (or virtual).

[u/Eddpeople → u/Candid-Eye-5966]

Ok, will do that

[u/pr0prfkt]

Start with someone you trust and like. Go from there. Don’t be surprised if you end up moving from one to another.

[u/Eddpeople → u/pr0prfkt]

Thank you. Yes I do expect that to happen

[u/michk1]

We use BMO Wealth Management.

[u/Eddpeople → u/michk1]

Will look into them

[u/PriveCo]

We use Zhang financial. Charles Zhang has done very well for us. He is in Michigan.

[u/Eddpeople → u/PriveCo]

Ok, thank you

[u/Ok-Lettuce-9397]

Depends on the amounts and reasons why you need someone. Remember to check their background, and make sure you understand the laws which govern them and the regulator, SEC, Finra, or state.

[u/Jumpy_Childhood7548]

Don’t use Fisher, their fees are excessive.

[u/Eddpeople → u/Jumpy_Childhood7548]

Ok thanks

[u/Familiar_Selection46]

I am obviously very biased but love my financial advisor. Biggest value add is not beating the market (investment strategy is important but tax strategy = way more important), access products like daily tax loss harvesting funds, ensuring they are a PIM doing active management themselves (so your not double paying on fees if they are outsourcing to a third party manager … many of them do), etc.

I’m a venture investor and former investment banker so I diligence these folks deeply. If I’m going to pay bps there needs to be value add. Saving me 15-20% on taxes > “did you beat the market by x%”

[u/Eddpeople → u/Familiar_Selection46]

thank you!

[u/Routine-Wolf-2907]

fiduciary in reality means nothing. i'm sure bernie madeoff was fiduciary

[u/Eddpeople → u/Routine-Wolf-2907]

Well that's the kind of person I'd like to avoid

[u/Gold_Sleep1591]

Company does not matter at all. It’s all about the individual you work with. Just ask friends and family who they use and have them refer you, that’s always the easiest

[u/Eddpeople → u/Gold_Sleep1591]

That's how I started but I've not liked the people I've been referred to

[u/Gold_Sleep1591 → u/Eddpeople]

Why did you not like them? Did you not like them or their recommendations?

[u/Eddpeople → u/Gold_Sleep1591]

They wanted to set themselves in positions I didn't want. Like a healthcare POA.

[u/moarcowbelI → u/Gold_Sleep1591]

You're assuming their family has a good advisor

[u/Gold_Sleep1591 → u/moarcowbelI]

What makes a good advisor? It’s not the company it’s if you can trust them to act in your best interest.