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fi nancialforum Investment Help G


Find an Advisor To find an independent financial advisor, visit www.cfp.net, www.fpa net.org, www.napfa.org, and www.garrettplan ningnetwork.


48 MILITARY OFFICER MARCH 2014


Do you need assistance managing your investments? Lt. Col. Shane Ostrom, USAF (Ret), CFP®, helps you decide whether you should seek professional help and suggests where to fi nd it.


Good investment help is invaluable. Finding it is a challenge. How do you fi nd good help, and how do you know when you have found it? Before seeking help, the fi rst decision


you will need to make is whether you should even try to fi nd it. While there are excellent reasons for seeking help, you always can go it alone given all of the web-based services available. But can you do it alone? Of course


you can. You also probably can do all the maintenance on your car and build your own furniture if you do your research and set your mind to it. It comes down to your time and eff ort.


You can manage your investments if you are willing to educate yourself and detach from 1) your emotions, 2) ceaseless mar- keting pitches, and 3) media brainwash- ing. To me, the question isn’t whether you can manage your investments, it is whether you should do it given the dis- tractions and emotions involved. Frankly, I’m biased. I prefer people fi nd


a trusted fi nancial advisor. Surprising, huh? You are busy professionals with busy lives. You can’t be experts in everything, and there is only so much time in a day. Nothing is cut-and-dried in the fi nan- cial industry. Opinions are all over the map, and there are too many options for anything you want to accomplish. You need a trusted advisor to help you navi- gate the stormy and confusing fi nancial waters and take your emotions out of the


equation. You need objectivity and a spe- cialist. At least have someone who will look over your shoulder. You have to shop around, but where


do you look? You can go to a fi nancial fi rm, but be aware they will lead with their primary products. For example, if you go to an insurance fi rm, you’ll prob- ably get an insurance product — it’s what they know and sell and how they make their money. On the other hand, if you want general advice or a fi nancial plan with no product biases, you’ll need an independent person who’s not affi liated with a fi rm or a product. You might know where to fi nd the


fi rms, but how do you fi nd independent practitioners? Use the websites listed in the box to the left. Be aware some of the sites might list advisors at fi rms. After you’ve determined your need for help and the kind of help you need, decide what product or service you want (planning, investments, insurance, es- tate planning, etcetera). Then start your search with a person or place that spe- cializes in that service. Next month, we’ll focus on choosing your investment advisor. MO


— Lt. Col. Shane Ostrom, USAF (Ret), is a CFP® and benefi ts information expert at MOAA. To speak with a fi nancial planner, contact USAA at (877) 913-6622 or www.usaa.com/moaa. Visit www.moaa.org/fi nancialcenter for other resourc- es. Email specifi c benefi t and fi nance inquiries to beninfo@moaa.org.


PHOTO: SEAN SHANAHAN


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