Thanks for sharing your experiences. I haven’t met with the CPA yet as I’m still able to forecast our taxes pretty well and so I think I may give it another year before we seek out a professional.

This ELP brought out a folder of American Fund investments and that’s the only thing he advised in terms of ‘financial planning’ (i.e. purchase some of these mutual funds that he is peddling for sales fees that he earns upfront).

I am disappointed and surprised Dave would go this route as opposed to fee-based CFP or CPAs, who do not make commissions by suggesting the investments they peddle, which obviously has a bias built in.

I’m going to instead see a fee-only CFP who doesn’t sell any securities, and get an updated investment strategy. Buying some American Fund mutuals at a load of 5.75% isn’t a plan for anyone but the ELP to make some commissions.

Dave is good for teaching people how to budget and stop overspending, but I see that his ‘investment’ advice is not his strong suit. Putting ones’ personal finances in the hands of anyone who has a vested interest in you purchasing specific products is not prudent financial planning.

Do not get suckered into buying an ELP’s products.