jbd@pyuxjj.UUCP (J B Davis) (10/29/85)
We were recently contacted by a representative of Ford Associates in Florham Park, NJ. Apparently this firm handles 'financial planning' for people - i.e., they offer to review all of your finances (salary, savings, taxes, investments, assets, etc.), help set up budgets, and propose different investment 'vehicles' to reach your financial goals through a long-range plan. There is no 'fee' charged for their services. However,their only stipulations are that, if you go along with them on a review, you have to agree to 1) go through them for investing in the 'vehicles' they suggest IF you do decide to make those investments and 2) give them the names of five other people/couples who might be interested in the type of service that they offer. Altough it initially doesn't sound too bad, I am a bit concerned about certain aspects: a) The five names need to be given to the agent at the beginning of the financial review process rather than after, so you can't really be sure that they really deliver a quality product. It might be hard to face those five friends after! b) Not having to pay anything sounds kind of nice, but this is possible only because the agents get their commissions from the institutions/? marketing the investment products. I worry that this would compromise the agents position so that he/she wouldn't really be representing MY interests but would rather be in the position of trying to push some of these 'vehicles' to get good commissions. If anyone has had any experience good or bad with Ford Associates or any similar firm, please reply to me by mail. (Post to the net only if this seems it would be of general interest.) Thanks. Jeff Davis Bell Communications Research 50 Cragwood Road, SPL 1A-258 South Plainfield, NJ 07080 (201)561-7100 x2002 pyuxjj!jbd