Ok, so as you may have noticed, I have decided to defer or delay taking on new clients. Lots of folks are searching for and selecting Jim MacKay Financial Planning as their preferred provided of Fee-Only, Fiduciary advice. I'm so grateful to be in this position, and while I remember being warned of this dilemma, I couldn't have anticipated how hard the decision to stop taking on clients would be.
I want to help. That's just my nature and one of the primary reasons I chose this profession. So to tell someone "no", or "not now", is difficult. If I'm going to provide the services promised to existing clients AND have an enjoyable personal life, it's necessary. It helps that there are alternatives. Not very close to home, but they're out there, and willing and capable of helping. So how do you find them? Here's where to start:
NAPFA - National Association of Personal Financial Advisors - 100% Fee-Only, Fiduciaries. The largest organization of such planners in the country. There are many different types, specialties, fee schedules, etc., so do your homework and have an idea of what you're looking for. Most can work with you remotely so geographic region is less important than you might think.
XY Planning - The upstart organization now more than 1,000 strong, focused on planning and investment advice for Gen X & Y (although there are many very capable of helping others too). All members provide hourly, fixed fee engagements and have remote meeting capabilities and generally tech-savvy types.
Garrett Planning Network - Cheryl Garrett's original Fee-Only group is full of helpful professionals with a variety of backgrounds and specialties. Garrett put the hourly, as-needed planning approach on the map and continues to be a prominent promoter for clients from all walks of life.
Expect to find a good deal of overlap in your search. In fact, you might find planners who are members of all three organizations. Each provides its members with a variety of resources and their Find A Planner search engines will help narrow down your search.
Unfortunately, Springfield, MO and the surrounding Ozarks is not yet a hotbed of Fee-Only planner options. But there are plenty across the country perfectly suited to help. If all else fails, you are welcome to ask me. I'm happy to provide a name or two to assist in your search.
And if you know of anyone interested in starting a career or transitioning to this model, please encourage them to learn more and reach out to those of us doing it.