What is your overall opinion of financial advisors?

I have an accounting background, so I’ve always acted as my own advisor. I know I have my best interests at heart, but I’m not so sure about these advisors. My wife talked me into going to one of those dinner seminars, but the guy was way too slick for us. It didn’t seem like he was selling anything that we wanted to get into, so we decided to just keep doing what we’re doing. We did take the advice of the attorney we hired to set up our estate; he recommended we get long-term care insurance, which we did.
-Hugh L., 64, Jacksonville, Fla.

Well, they have a reputation for steering you toward the investments that make them the most money, not you. My personal experience has been OK, though. We use a financial advisor who has been in the business for a long time. He helped my aunt do her entire estate before she died, and it worked out well for the family. We were so impressed by how he handled everything for her that when it was our turn to think about planning our estate, we called him up. He’s kind of like a friend of the family at this point.
-Martin F., 64, Lubbock, Texas