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Dear PoPville – Looking for a financial advisor

by Prince Of Petworth September 27, 2011 at 2:30 pm 44 Comments


Photo by PoPville flickr user Faucetini

“Dear PoPville,

I am looking for a financial advisor referral.

With the economic situation going on, I have stopped looking at my 401k, it is very depressing :(
I know everyone is in the same boat at this point. My problem is that I contribute a big portion of my salary every month in my 401k (there is no matching). My contribution get invested in different mutual funds portfolio that I (randomly) selected with not much knowledge of their financial status (thus my next question)

I am wondering if it is smart to keep automatically withdrawing a big amount of my paycheck to put in my 401k which is losing value daily? Maybe I should direct deposit the money after taxes to my saving account for emergency fund?

I also believe that I need a financial adviser to guide me on how to manage/invest my 401k.
I dont know any financial advisor with good reputation (i.e. not trying to sell me some kind of insurance and reasonable fees),

maybe popville reader have used one before an can make a suggestion? (price info if available will also be great)
Thanks in advance.”

From a press release:

“Metro Washington Financial Planning Day was created to assist people in our community, District of Columbia, Mayor Vincent Gray and Metro Washington Council of Governments invite you to participate in Metro Washington Financial Planning Day on Saturday, October 15 at the Columbia Heights Educational Campus (Bell Multicultural High School).

The event is a groundbreaking effort to provide Metro Washington residents with free financial advice and education, delivered by professional financial planners at no cost and no strings attached. The advice will be offered through one-on-one counseling and classroom-style presentations by experts from the Financial Planning Association and highly qualified Certified Financial Planner™ professionals. Attendees will have the chance to win one of two $500 scholarships.

To learn more about the event and register, residents can visit www.FinancialPlanningDays.org/DC.”

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