Mark Parrett and Steven Manuel sit down to answer an age-old question: Would I Be Burning Money to Hire a Financial Planner? What do all those letters after their names mean? What do they do that I couldn't do for myself? Are they jacking up the prices of my investments to put money in their own pockets? And how might I find out?? They discuss all this and are up front about the fact that NOT EVERYBODY NEEDS A FINANCIAL PLANNER and some tips and watch-outs in this fraught arena. Have questions about anything... email us!

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Resources mentioned in this episode:

AW episode: board of directors: https://abrahamswallet.com/podcast/you-need-a-board-of-directors/

AW article, “When I Was A Millionaire”: https://abrahamswallet.com/2018/05/16/on-riding-financial-rollercoasters/

About Abraham's Wallet:

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This Week's Episode Rundown:

0:00 Twitter recommendations

4:00 Intro: Is Hiring a Financial Planner a Waste of Money?

6:20 What is a financial planner?

10:00 What is a Certified Financial Planner?

14:05 Are CFPs trustworthy?

17:28 Are all financial planners con men?

27:08 Rules of thumb: do I need a financial planner?

30:45 How to find out what you’re paying your investment advisor

45:10 Summary