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Tuesday, August 01, 2006

Free advice from 100 financial planners

Wary consumers can get free advice from 100 financial planners

More than 100 financial planners will gather at the Los Angeles Convention Center later this week to offer free, one-on-one financial counseling. The event, sponsored by the Certified Financial Planner Board of Standards, is billed as no-strings-attached.

There's no question that consumers could use professional help to make sense of it all, but only a tiny fraction of Americans seek assistance from financial planners. Sarah Ball Teslik (chief executive of the Certified Financial Planner Board of Standards in Denver) thinks she knows why.

"Some are embarrassed," she said. "They don't want to come in and say that they have credit-card debt." Others are simply befuddled, she said, feeling incapable of even asking the right questions. They assume Uncle Fred will be more tolerant of ignorant queries — and won't bill by the hour.

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