I have recently gone for my SRES designation.  Seniors are certainly among those who would be in need of financial planners.  I think it's a great addition.

Looking forward to seeing how this will develop.  Question,  is that the first invite sent or the first planner to sign up? thanks, jeff

Sign up!!

And Jeff, thank you for the suggestion. I tried to call you before we went live with this. Give me a call if you have a minute. 

Can anyone calling themselves a "financial planner" join in that category???  Might Certified Financial Planner" be safer?  Otherwise we'll be inundated with folks selling "how to get rich with real estate".  Wait.  We already are.

CFS is hard to get and some great financial planners never get the designation. But, I think this is an awesome idea, should be interesting to see all the different strategies......for FREE!! Maybe for any AR member that decides to work with them they could donate to AR. LOL

Good Addition Guys.  Great Financial Planners know how to incorporate Real Estate into investing, mostly for the tax advantages.

Bob... my pleasure and thanks for the quick mention.

It work for me. I know a lot of realtors that do little planning for the future. Now that times are harder it makes it even harder. We are all self employed so it makes a lot of sense to have some on board.

Lenn,

I checked with a good friend of mine, who has the designation of financial planner regarding the differences between "financial planner" and "financial advisor". I believe that in order to call yourself a financial planner, you have to have the designation (which is a federal thing). We want people who have the designation.  

Great idea to update the profiles.   I think we need to also include a Real Estate Developer!!!  What about that profile, I think this one was missed too!!

Thanks Bob.  I just dreaded all of the "get rich quick" junk going across the dashboard. 

If Financial Planner is the category, then anyone who is in it is the real thing.  It's getting harder and harder to screen the scammers, scrapers and skunks.

I think it's a great idea.  Of course, anyone can post.  Just that their identification would be in that category.

I love it.

Sounds great, I know a few that would love to toot their horn.

What about CPA's? They do cost segregation for commercial properties and time of death appraisals.

Oooh!  I used to be in the financial services industry before I came to real estate!  I just fired off a few invitations.  What a great outlet for their business - marketing to current and future homeowners as well as us Realtors.

It's a very important segment, and I'm glad to see it being included.  After all, when our clients buy homes, it behooves them to plan ahead so they can KEEP them, should something happen to their families.  Not to mention the usual succession planning stuff that comes with home ownership.  This is totally relevant.

Reserved Parking...

Don't even think about giving TLW a ticket :)

TLW...ROAR!

You know, I was just thinking.  There are other professionals in that field who do not have the CFP designation, but are involved in much of the same kind of planning activities.  We really should open up a designation for people with life insurance licenses, or Series 7 (able to sell stocks and variable investment products) licenses.

I agree that some sort of licensing should be required to keep out the "get rich quick" authors, etc., but I don't think it should be limited to JUST the CFP.

Great idea to add Financial Planners - I welcome all the true professional ones, designated or not. Should be a benefit to us, to Active Rain and to the Financial planners. That a real win.

Bob,

I think this is a great idea!! Jeffs a great guy, and  Finacial Advisors can really help get most people back on track.. Great Deal :0)

Tom Weiss

If this is true, then I think Accountants should be another profile on AR too. They have alot of great contributions interm of tax effects on our real estate business and also, for RE investors and homeowners....

This should be a great addition, and I look forward to reading some great financial advice posts.

Ann 

AH! My ex-boyfriend is a financial planner... hmmm. but do I want him here??? That's the 1000 point question....

CPA's and Accountants.............

How does the old saying go.........you give a foot and they want a yard? Since it's so close to Halloween I'll tell you what used to happen to me when I was little. The day after Halloween I would eat all my candy. Every last piece. And I would get sick because I got too much of a good thing all at once.  :) (luckily I had three younger brothers so I could take, they called it stealing, their candy, hahaha)

That last paragraph was said mostly tongue in cheek.........(mostly)

We talked about CPA's and Accountant for a little bit today.....................I don't know...........is that what the community wants? Are we getting too far outside of our core, the real estate business? I don't know, you tell me......... 

Wow, that was a great idea. I can definitely see the benefit of adding Financial Planners & Advisors.

Sean Allen

This will be very interesting to see what happens and I hope you let us know who got the first 1000 points.

Would like to see it happen for selfish reasons.  AR serves as such a great learning platform, would be nice to benefit from some sage advice from that arena as well . . . not to mention developing contacts that could benefit clients in need of financial advice.  Who knows, maybe one day I'll even have money of my own to manage?????

NO. NO. NO. NO. NO.  Asking a person to have their CFP is equivalent literally to telling a Realtor they can not be on Active Rain unless they are a real estate broker with 10 years solid experience.  Are you kidding me??  The CFP designation requires a federal test that is known throughout the world as being one of the most difficult tests a person can take.  It often takes 2 years of 30 to 40 hours a week class training just to be prepared.  Very honestly makes the real estate brokers exam look like a joke.  There are people who have passed their series 6 securities license test (very hard), their series 26 securities supervisory license test (extremely hard), their series 7 stock/bond/futures/options license test (A 10 HOUR TEST that has literally made some people spontaniously combust in their testing chair),  and have failed their CFP 3 times.

CFP designation should not be a requirement.  Most advisors (even great ones) don't bother getting it, because it's so 'out there'.

By the way, everyone knows I'm the first Financial Advisor on Active Rain.  I've been writing blogs about Financial Advisory issues for 5 months now.   Just so you know, Oil is trading above $98 a barrel which means $4.00 gas in the near future.  Gold is at almost a historic high selling at $846 an ounce; this is due to the falling dollar, which is due to fear of inflation caused by keeping unusually low interest rates compared to the global markets in order to keep real estate alive and strive for a come back.  The hottest mutual funds are 'Emerging Markets' funds which are primarily based on South American companies as well as vietnam and Thailand, with the average fund from Morningstars (a rating company) top 10 list having a year-to date ROI (return on investment) of over 60%, and we're not even finished with the year yet.  Also, banks are taking a serious beating from loan losses.  If you own bank stocks, you might want to consider selling them.  Possibly buy again later when their share prices are like picking pennies off the floor.  Also, most professionals will advise you not to buy energy stocks in oil companies.  Just because oil is up, doesn't mean they're going to give their profits to you.  Their blaming it all on "another oil shortage".

So where do I go to sign up?  so I can be the first.  $10,000 invested earning 60% can be around a million in about 12 years.  DOESN'T ANYONE WANT TO VOTE FOR ME???  If you do, I promise to tell you all about Morningstar and MSN 'CAPS'.  I might even tell you about mutualAdvisors.com.  A sight that helps you pick the best 'SAFEST' mutual funds with high returns.

I really really really want to be first.

I'll even give you a freebie...  Want to see over 500 advisors favorite stock?  Check out ticker symbol...

PMFG.

During yesterdays dow drop of around 360 points.  This stock just kept going up and up.

It has a 5 star MSN CAPS rating, and Morningstar loves it!! 

Financial Planners are intregal to the whole real estate mortgage planning boon, this is a great idea and I fully support these efforts. 

Every other life insurance sales person I run into call themselves a financial planner.  I wonder how many of them will join and contribute.

By the way, this is a great idea AR Dudes!

Hi Bob,
Yep, good idea.  I think Financial Planners will add a new dimension to AR.  I love the way you guys "listen".  

Great Idea....another question for you.....how do you change your designation?  I'm designated as a real estate agent, although I think I should be in the commercial agent category.  Can I change this?

THat is a great idea, I know I would love hearing from that group.

Okay, here's what I want you all to do...  Since I'm sure most of you do not have a compound interest calculator handy, simply go to the website http://www.moneychimp.com  Then simply pull up a compound interest calculator.  Then plug in that you save let's say $400.00 per month.  That's $4,800 a year which falls within the new 2008 Roth IRA guidelines which states that if you leave your money in until age 59, you will pay NO TAXES on your gains.  Then plug in your choice of interest.  Would you like stocks like PMFG that have risen 145% in one year, or do you prefer to be more diversified (safer) and own a mutual fund that's invested in emerging markets that earned 60% last year, or do you prefer something much safer like a Marsico small cap fund averaging around 20% per year, or are you a cry baby and want to get that big 3% interest on that CD your bank wants to sell you; as the bank goes and puts your money into funds, makes a fortune, and gives you a crumb.  BTW, for you really mathematically smart people out there, if inflation is 3.05%, and you only earn 3%, don't you actually lose money against time?? 

Then...  Put in savings time of 12 years and also look at 15 years.  Look at how just a small amount can become over 2 million dollars.  Then of course with 2 million in the bank, even if you only earned 10%, that would be $200,000 per year earnings income for you for the rest of your life without ever having to work again.

You guys better be nice to me, or I will go away.

Randy,

Can you give me a call? 425.216.2754

I promise I will be nice..........you can ask everyone else :) 

I wonder if it would be a good idea for me to do a big webinar, training on the basics of mutual funds and also Index funds, for those in the community who would like to learn some interesting new stuff.

SURVEY:     What would 'YOU' like to learn about most?  Mutual Fund basics, IRA's, ETF's, properly managing your 401k, Morningstar ratings, MSN CAPS, Fund Finder, how to cover estate taxes, what is an annuity - and why should EVERYONE definitely have one?  What is the difference between nano-cap, small-cap, mid-cap or large-cap?

Randy DON'T call Bob.  Send me your email first.  After I invite you and you accept, THEN you can call him.

(he really is a nice guy LOL)

I took all of the CFP classes and believe they make great team members for real estate agents.  They have experience w/taxation, estate planning, retirement, insurance, and investments.  What a great asset to my team and Activerain.

Welcome aboard Randy!

From your comments here I doubt that you will have any problem generating a post that gets comments. It seems like you have lots to say. It's our pleasure to have you here!! 

LOL Randy...

I like you already :)

TLW...ROAR!

Randy, I actually didn't invite you because I didn't have your email address.  No matter.  I don't think I've ever worked so hard for 1000 points that I didn't get!  LOL  But Bob should give me 500 points anyway for trying.

I look forward to your posts Randy!  I think you'll be a great addition to the Rain.

Financial planners are a perfect fit for Active Rain - Great idea!

Randy - WELCOME, and I'm going to go check that stock you mentioned!  And YES, I'd be interested in learning MORE and MORE and MORE!!!

WELCOME!!
Ann

Great idea.  Got some people to send an invitation to!

That's a great suggestion. Adding a financial planner to the mix will definitely complement the great lineup we already have. His/ her insights will bring useful knowledge to members and consumers alike, something that all readers will appreciate.

This could be a great thing for the active rain community.

Howdy

You have done a good thing for folks with this. Thank you.

Have a good one

I tried to invite a financial planner friend and he shared this with me: "I'll check this out, but I can't blog due to compliance regulations. Internet blogging could be construed as soliciting and you cannot solicit in states you are not registered, thus blogging is not allowed because the internet cuts across state lines."

Sounds like a great addition for the community and readers alike...

Have you ever thought of having an Active Rain for singles? Just wondering...

Jenna Ryan
The Marketing Shop.com
Real Estate Web Everything

Hey Randy, I'd love to take a look at that group.  Do you have a link for the site?

I happen to be a CFP, Certified Financial Planner.  It is quite difficult to attain.  In addition to taking the required courses, which are taught by selected colleges, the national exam is a p***er.  It is not just attending classes, like designations in real estate.  In order to maintain your designation, you are required to have Continuing Education Credits every 2 years, similar to many state's requirement for real estate agents.

Can you add the category "Feng Shui Master" please?  Thanks.

One issue of concern is that there is quite a bit of over regulation in this Financial Planning Sector and someone who set up a blog here with Financial Planning information could get in a whole lot of trouble. It they were with a large independent Financial planning firm, they might find their corporation coming down hard on them. If they were not careful they could lose their license, and the competitors would most likely turn them in. Thus, if they could even get approval from their firms, most likely not, they would be opening themselves up for a lot of liability there, Lance. It's pretty serious.

whoever is this blogs master,

Could you please delete this blog.  SEC regulations state that is against the rules for financial advisors to blog as it crosses state lines, and most financial advisors are not licensed in all 50 states.

Please delete this entire blog.  Thank you