[quote author="Bubblegum" date=1237943264]We have most of our financial accounts and affairs handled by Morgan Stanley. My better half is always pissed off at the service from our Financial advisor rep whom, my parents have had a relationship with many years. The problem is not so much performance of our money, as they all tanked relative to the economy, but of customer service and just dropping the ball on several occasions. To make matters worse, our rep is is Torrance, while we're in Irvine. So this time around, we'd prefer someone local.
Is Fidelity, or Schwab any better or is anyone happy with their financial advisor? I'd prefer a larger institution, not sure why, rather than an individual or smaller firm.
BG</blockquote>
I am mostly familiar with the Registered Investment Advisor Industry(translation: these are advisors that are independant from brokerage houses. The use brokerage firms to custody assets but they do not work for them. The advisors are typically CFPs) It would be easier for me to offer suggestions if you laid out what exactly what you are looking for in a financial advisor. I think most client/advisor relationships go astray because expectations are not clearly communication from the gecko.
Personally, I don't care for the places like Morgan Stanley because I believe they isn't much value added in their services. I know for a fact the most valuable service you can get from a financial advisor is outside of investments. I work in this this industry and I've met some advisors that have an unbelievable vast knowledge of tax law, estate law, divorce issues, real estate, medicaid,family counseling, you name it. These are the people that are worth there weight in gold. Because even if someone that can beat the market for you; it's very likely that all those extra returns will be given back if that advisor doesn't have the expertise to save your ass when you get entangled in some estate planning mess or what have you. This where the real costly mistakes are made.