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Seeking: Financial Planner


Zx2guy19

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Hey folks,

 

I know there are a lot of successful people on CR, and as I continue to grow my rental business and my professional career, I feel like I'm getting to the point where I need some guidance on where to put my money, what debt to pay over others, etc. It's getting hard to manage myself and I know that sometimes hiring a professional is best.

 

Looking for someone who has experience with real estate, specifically rentals. I'm located in Hilliard but work on Morse Rd., so anywhere in Columbus is fine really. However, must be available after 5:30p or on weekends, as I work 8-5 every day and my wife works 9-6.

 

Thanks!

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William Poindexter with Huntington Wealth Management. He is a Certified Financial Planner. If he can't help you with your specific needs, he will find someone within the Private Financial Group that can. 614-480-4384

 

or

 

Family friend that is a Financial Adviser and has rental properties himself so has personal experience: Sean Milner 614-846-6000 ex. 127 or 614-901-9572. Never had an issue with availability.

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What functions do you have professional help for, and what do you do yourself?

- Property Management

- Tax (personal/business)

- Financial adviser (investments outside of real-estate, asset management/leverage)

 

Hey Clay...I fired my property manager in February of this year, so I manage them myself now. I do have a CPA who has done my taxes for the last 5+ years. She does my personal, business and now my wife's (recently married- 2014). I do not have a financial adviser.

 

William Poindexter with Huntington Wealth Management. He is a Certified Financial Planner. If he can't help you with your specific needs, he will find someone within the Private Financial Group that can. 614-480-4384

 

or

 

Family friend that is a Financial Adviser and has rental properties himself so has personal experience: Sean Milner 614-846-6000 ex. 127 or 614-901-9572. Never had an issue with availability.

 

Thanks man, I'll see if I can get in touch with them. I do want to see if anyone from CR does this to keep the business "in house".

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Hey folks,

 

I know there are a lot of successful people on CR, and as I continue to grow my rental business and my professional career, I feel like I'm getting to the point where I need some guidance on where to put my money, what debt to pay over others, etc. It's getting hard to manage myself and I know that sometimes hiring a professional is best.

 

Looking for someone who has experience with real estate, specifically rentals. I'm located in Hilliard but work on Morse Rd., so anywhere in Columbus is fine really. However, must be available after 5:30p or on weekends, as I work 8-5 every day and my wife works 9-6.

 

Thanks!

 

Bill Peyton - Ameriprise - 614.396.4020 or william.d.peyton@ampf.com

 

-Marc

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Financial planners are paid through fees, either paid directly from the client, or authorized by the client to be paid through the investment firms they represent (most likely).

 

Financial advisers (the good ones) will have a book of business that they cultivated through their successful use of strengths; some are specialists in trading options, some in working with non-profits and managing their investments, some claim to work well with entrepreneurs/small business owners, some have a few players from the Blue Jackets and manage their investments/insurance, yada yada yada... regardless, ALL OF THEM are in it to make a fee. You need to find someone that understands what you want to do and can help you put together a plan, not shoe-horn you into a program that doesn't solve your needs.

 

I used to be a FINRA-licensed Series 7/66 financial adviser and truthfully am happy to be out of "the business". I know Jordan (2HighPSI) was one as well...there are a few FA's on the board but I can't remember whom...

 

I know a few really good guys around our age (especially here at Merrill Lynch), but most of them need a minimum amount of investments before they can work with you. If you go with an Ameriprise/John Hancock/Nationwide financial adviser (anyone affiliated with an insurance firm), don't be surprised if their "investment advice" totally entails insurance products like whole life policies; that's all they can sell. I'd rather see you talk to an Edward Jones or Raymond James guy that knows his stuff.

 

Where do you bank currently? Most of the major regional banks have competent people at the branches you can talk to...

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Personally if I used a financial planner I'd only work with one who gets paid by the hour by me for their consulting services. The mutual fund store has info on how to find these types on their website.

 

Otherwise if someone refers a good one that could work too I guess.

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My market investments are qualified (retirement) 401(k) and IRAs, with a couple of 529s...I'm managing it on my own, but once I get to a specific number in my IRA I'm giving it all over to an FA.

 

Honestly, if you have $250k or less in the stock market specifically - whether qualified or non-qualified - I'd do a Vanguard account with some of their funds and let it ride. That, or have your own brokerage account and buy a diverse group of ETF's. THIS MARKET IS FOR THE BIRDS. ;)

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Financial planners are paid through fees, either paid directly from the client, or authorized by the client to be paid through the investment firms they represent (most likely).

 

Financial advisers (the good ones) will have a book of business that they cultivated through their successful use of strengths; some are specialists in trading options, some in working with non-profits and managing their investments, some claim to work well with entrepreneurs/small business owners, some have a few players from the Blue Jackets and manage their investments/insurance, yada yada yada... regardless, ALL OF THEM are in it to make a fee. You need to find someone that understands what you want to do and can help you put together a plan, not shoe-horn you into a program that doesn't solve your needs.

 

I used to be a FINRA-licensed Series 7/66 financial adviser and truthfully am happy to be out of "the business". I know Jordan (2HighPSI) was one as well...there are a few FA's on the board but I can't remember whom...

 

I know a few really good guys around our age (especially here at Merrill Lynch), but most of them need a minimum amount of investments before they can work with you. If you go with an Ameriprise/John Hancock/Nationwide financial adviser (anyone affiliated with an insurance firm), don't be surprised if their "investment advice" totally entails insurance products like whole life policies; that's all they can sell. I'd rather see you talk to an Edward Jones or Raymond James guy that knows his stuff.

 

Where do you bank currently? Most of the major regional banks have competent people at the branches you can talk to...

 

Yeah, I definitely don't need help with my investments. As I mentioned, I do rentals and really don't plan to diversify in the near future. At some point I will, but I'm 25 and have plenty of time (unless I get hit my a bus or something soon).

 

I bank at US Bank- really what I'm looking for is for someone to look at all my finances- debt, income, assets, etc. and show me where I should be allocating my money, etc.

 

Example- I have an active 20k credit line for rental rehab that I has a 14k balance on it at a 5% interest rate. I have 6k in student loans (1 of 4) that is at 6.8%. Is it smart to take the 6k on the credit line and pay the student loan off to save 1.8%, or is it not worth it.

 

This is purely example.

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If your just looking for where to spend future income, I don't think you need to pay a Financial Planner for that unless you need a something like a life insurance policy, investments etc. If you come up with what your financial goals are, you will probably come up with most of your answers.

 

In your example I would ask if the credit line is intended for repairs etc. for the rentals?

 

if the answer is yes, then I wouldn't take more out or max that out for other debt.

 

In not, or you don't need it for anything else, I would say yes. You would be paying a lower interest rate and payment and the extra could go to principal.

 

I was always told any extra payment on debt should go to the debt with highest interest rate.

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