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USAA is The American Legion's preferred provider of financial services. Offering a range of top-rated financial and insurance products and services. USAA welcomes honorably discharged U.S. military veterans, active-duty troops and qualified family members and descendants of those who have served. USAA contributes funds to American Legion programs when members join through a dedicated channel:
usaa.com/legion or by calling toll-free at 1-877-699-2654.

Financial Questions & Answers

Financial Questions & Answers

Question:

When I retired, I invested my pension and 401K dollars into a major financial corporation. I do have a financial advisor who works at this corporation. Do I need an external, unbiased financial advisor who is not part of this corporation? – Nick

Answer:

Hmmm, that’s an interesting question. I guess we’d answer it with some questions of our own. First and foremost, “how are things going?” Do you have periodic reviews with your advisor in which you review your investments in the context of your overall financial situation? How is your retirement income plan progressing? Is it sustainable? If you’re unsure as to the answers or just generally uncomfortable there’s certainly nothing wrong with getting a second opinion. We would look for a “fee only” financial planner. In this case, you’d hire a Certified Financial Planner practitioner solely to review your overall financial situation. This planner’s role would not be to manage your portfolio, take over your accounts, or sell you anything, but to provide feedback and advice relative to where you are right now. It may be that you’re on easy street, but the fact that you’re asking may mean a fresh set of eyes would be helpful. USAA does have a team of financial planners that could assist, 877-699-2654.