Madoff Help News & Assistance

Getting the right financial professional to join your Madoff team can be a real help to securing peace of mind. Finding one may not be so easy….

Perhaps you’re a Madoff victim who just lost sizable assets and are wondering if you have enough funds to continue living in your current lifestyle. Maybe you’re looking for an objective evaluation of your current assets that takes into consideration your fears of the current investment climate. Perhaps you’re an accountant or attorney who has Madoff investor clients who would benefit from an assessment and some peace of mind.

Finding the right financial planning professional who has a keen understanding of the Madoff situation in tandem with the ability to help an individual take stock of their current state of affairs is important, although not necessarily easy. You may even have a competent financial advisors now, but objectivity – an outside perspective – can be key.

This means speaking with someone who is focused on your current situation and future needs and not managing your assets, so it should be someone who is not paid by commission, but charges an hourly fee or flat fee for that analysis. This is not to say that commission-based financial consultants are not competent as money managers, stock brokers, what have you. For this, however, you want someone who will be focused on helping assess your situation, and nothing more.

While a good friend might be able to connect you with someone competent, most should look for advisors who are paid strictly on a fee basis, are Certified Financial Planners, Registered Investment Advisers, and can demonstrate extensive background in financial and life planning. Most investment professionals are strong on the investment management or insurance side – but that’s not the emphasis you’re looking for right now.

You can begin your search by going to the Financial Planning Association, www.fpanet.org. You can also check out the National Association of Personal Financial Advisors at http://www.napfa.org.

An initial conversation with a professional should be a helpful start. Make sure you find someone sensitive to your situation, and someone you feel entirely comfortable with. Remember, an objective financial professional will be an important part of your Madoff team, and someone who can go far to improve your peace of mind and personal planning as you move forward. We encourage that he or she sit with your accounting and legal team to get everyone on the same page.

RS