Is it wise to take financial advice from my co-worker who is not a financial planner?
“Co-workers can be a great source of advice for many different areas, but I would be very careful about financial advice,” said FPA member Douglas Roberts, CFP®, CRPC®, of Ameriprise Financial. “Why? Everyone's financial situation is different. The strategies your co-worker follows may work due to their ability to save, pay down debt, and fund their children's education.”
Roberts recommends you meet with a local financial planner for an initial consultation. “Many advisers will be happy to spend an hour with you on a complementary basis to review your overall situation,” he said. “Even if they cannot help you through comprehensive planning, they will be happy to give you a few pointers to get started.”