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Thanks! Interesting thought, though I have a natural hesitance towards recommending advisors (who might steer towards active management) or investment products,
by scubakid 5y ago
Thanks! Interesting thought, though I have a natural hesitance towards recommending advisors (who might steer towards active management) or investment products, since my initial vision was to try to make the tool as unbiased and objective as possible, and more in keeping with some of the principles from the Bogleheads community. You may have a point though; I would be interested to hear where others stand on this.
- trailrunner46 5y agoThere is a lot of skepticism around financial advisors and rightful so given the track record of many (picking insanely expensive funds, charging high fees themselves, etc.) However, I do think there is a place for advisors not to pick investments but rather actually plan for life events (including tax stuff), which is right up the alley of this app). Having someone who could take all of your inputs, ask the right followup questions and appropriately model the likely range of outcomes on this kind of app could be quite attractive.
- scubakid 5y agoTrue, planning for life and tax stuff does seem like a more distinctly helpful service. I have no connections in the financial advisory space, but in general I'd be open to discussing this kind of idea further.
- A4ET8a8uTh0 5y agoI do due to the nature of my work, but I do not feel as comfortable recommending anyone specific. Instead, I would suggest starting by focusing on fiduciary financial advisors ( https://money.usnews.com/investing/investing-101/articles/what-is-a-fiduciary-financial-advisor-a-guide-to-the-fiduciary-duty https://money.usnews.com/investing/investing-101/articles/wh... ), who have a legal duty to not recommend things that do not benefit their client. That alone may help with removing some of the unease of the referral.