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September 21, 2005


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Excellent post, but I would add that many excellent CFPs don't belong to NAPFA and this organization doesn't require a planner to have any credentials other than being "fee only".

Actually, this last poster is incorrect in their assessment of NAPFA advisors. They are all Fee-Only and the organization REQUIRES them to either have a CFP, PFS, or CFA. Unless you have one of these designations, you are not considered a NAPFA-Registered Financial Advisor. Also, NAPFA members are held to a Fiduciary Oath - the only professional association in the country to require such a standard.

Sorry, but I think blanket recommendation of NAPFA is wrong. What this guy needs is a planner who charges by the hour or per project (service) and does not have compensation based on commissions or % of AUM (both are based on amount investment). NAPFA does not work on commissions, but they can work on % of AUM & still call it a fee-only model. While it would be good to see the planner benefit (or lose) if the portfolio goes up (or down), that still doesn't make fee-only (% of AUM) model the best...

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