Planning Retirement Services are Abundantly Available

Planning retirement services are offered by numerous investment companies, insurance companies, and even banks. Why would I then advise you to rather find a consultant planning retirement services that is independent?

Don't get me wrong. These planning services would not be on offer if there were no demand for it. It is much easier to go along with your favorite financial institution as far as planning services are concerned. But the question is: where is your advisors' first loyalty – you, his client, or the financial institution he/she works for?

Financial advisors are paid big bonuses or commission when you invest in some of the instruments or products proposed during the planning of your retirement investment portfolio. The financial institution might even waive their 'consulting fee', but make no mistake – you are paying those bonuses or commission. A friend's son is in exactly this business. I can only marvel at the financial wealth of this guy. His employer must love him!

Many years ago my retirement portfolio was also managed by an advisor working for my bank – a large Swiss banking group offering private banking services. As I watched the investment spread of the portfolio unfolding, I had the uneasy feeling that investment instruments and products of this banking group were favored.

I stuck with their services for more than a year, but when some irrational investment changes – in my opinion – were made I called it a day. For some time I tried to manage the portfolio myself, but quickly realized that I was hopelessly out of my depth.

I eventually appointed an independent Swiss retirement investment advisor on a fee-only basis. His investment proposals are well researched and well motivated. The current investment climate, however, remains uncertain and unpredictable.

Planning services from your financial institution might be the easier way to put your retirement investment on auto-pilot, but it could be a costly luxury. Educate yourself sufficiently, as far as retirement planning issues go, so that you can ask the right questions. Get at least one quote from an independent qualified and experienced advisor. Compare fees, costs, and services. Then make your call.

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