There are many good financial planners, but the problem is they all want to get paid. And the "making money thing" can often go contrary to their best intentions. Imagine if all the pharmaceutical companies paid commissions to doctors through vacations, gifts, and the like to incentivize them to sell their drugs to one and all. No need to imagine, really. It happens.
Similarly, financial planners may get paid by insurance companies to sell life insurance and a variety of annuity products, which often are terrible plans with huge surrender fees. They are also often paid percentages of up-front fees by mutual funds that you end up paying, called loads, whereas similar mutual funds with no loads have the same or better performance without up-front load fees.
Some financial planners will work up a book-thick 10-year financial and retirement plan for you for a mere $5,000. But three to five years from now your life won't look anything like what you are currently projecting it to be, because, well, life is rarely that predictable.
So again, despite the fact that many financial planners have valuable skills to offer, it may not be worth the results, or the costs to gather the intellectual information.
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