Looking for a Fee Based CFP

6 Replies

We are looking for a fee-based Certified Financial Planner who is familiar with Real Estate Syndication. Does anyone have any recommendations? In case it helps, we live in Florida. Thanks in advance!

Chad, we are looking to hire a fee-based financial planner who is knowledgeable about real estate syndication to help us with our financial plan. We don't want to hire a financial planner who doesn't know what it is or how it works.

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@Scott S.

Hey Scott- I would first recommend checking out XY Planning Network, they have a great filter tool where you can identify Fee-Only CFPs that specialize in working with real estate investors and those wanting to invest in real estate. Another good resource is NAPFA, however, they are a little more limited in their specialization search. Please let me know if I can provide any other assistance in your search as well.

@Scott S. I second Daniel on checking out XYPN. Daniel is a member and I hear good things about him, as well as Cynthia Meyer.

As well, in terms of syndication, are you looking to invest money into it, or are you an owner of a syndication looking for in-depth advice?

Thank you for the recommendations. We are looking at real estate syndication as part of our overall investment financial plan and are looking for a planner who understands syndication. We've spoken to several planners already, but so far none of them know what syndication even is. I'm not sure I can go with a financial planner who doesn't understand what we are looking to invest in. 

@Scott S. That makes total sense to want someone who knows the answers to your questions.

As for real estate syndication, you are basing your investment in them on a few factors:

- management efficiency and cost: do they own the underlying property management company? If so, what do they charge? Is it reasonable?

- management fees: are they reasonable compared to others of similar size and investment type? How much of the cash flow is passed through to investors?

- syndication registration: are the an LLC based on membership? Are they a trust? Limited partnership?

- prior experience: what have they done so far? Has it gone according to plan?

- disparity between actual return vs pro forma return.

- syndication objectives: are they monthly cash flow oriented or large sums once in a while?

- what does your gut say about them?

These are just some of the things to consider. Hope this gets you started and questions you can ask whoever you choose as an advisor.