Why I am not a WCI "Recommended Financial Advisor" (RFA)

[jfoxcpacfp]

I've been asked this question and figure that, for everyone who asks, there are 10 more that don't ask but wonder what the deal is, so here's the explanation. In the beginning, WCI had a list of RFAs that he had personally vetted. With the rapid growth of the site, he decided to charge a fee for RFAs to be listed on that page. But not just any FA can be an RFA. You have to first fill out a long questionnaire that he then reviews. If he approves you, then you can pay a fee and send him the description that you would like to have listed on the RFA page. The Q&A is available for any reader who wants to get a copy.

I was vetted and approved a couple of months ago, but didn't know about the fee until I asked how to get on that page. Since that time, we have decided to change our name and rebrand our firm (new name, same people, same personal service) and our new website is scheduled to come out any day. We chose to hold off on our listing in order to come in under the new name and url. That's all. I'll happily pay the $800 to be listed when the time is right. (btw, we will have a cool Doctors' Only section that will be a work in progress for awhile and will have info for medical professionals).

I don't know if he has the same process for other "Recommended" professionals.

Probably way more than you ever wanted to know.

[Lindley]

I like the transparency, Johanna.  If your "paid" advice is any better than the great "free" advice you have given me and others on this forum, it will be a bargain for sure!

Thank you for you continued contribution to the wealth of information on this forum.  Best of luck with the name change and new website.

[The White Coat Investor]

All true as noted. More discussion here:

https://www.whitecoatinvestor.com/the-perfect-financial-advisor/

Some advisors I turn down.

Others, like Johanna, I offer to list on the recommended page or sell banner ads to and they opt not to pay the price.

Frankly, the recommended financial advisor page isn't much of a money maker compared to the hassles available but it's something readers ask for all the time. If I didn't charge for listings, I'd spend way too much time evaluating firms to be listed there. I'm already spending more time than I want to on that task.

 

[Joseph]

jfoxcpacfp wrote:

I’ll happily pay the $800 to be listed when the time is right.

Click to expand...

Is that really true?  Do you generally pay hundreds of dollars for advertising? Just wondering.

[jfoxcpacfp]

Joseph wrote:

jfoxcpacfp wrote:

I’ll happily pay the $800 to be listed when the time is right. 

Click to expand…

Is that really true?  Do you generally pay hundreds of dollars for advertising? Just wondering.

Click to expand...

Given that wampum is no longer accepted in most major venues, yes, I will pay hundreds of dollars if the proposition makes sense. All those ads you see online aren't free. WCI is the only online advertising I plan to do. This site has targeted readership in my specialty with high Google Analytics numbers, what's not to like? The folks interacting on the forum represent only a teensy minority of WCI readers.

I'm still uncomfortable with the 'pay to play' aspect of the RFA page, but at least it is disclosed (if you bother to read the intro). I understand WCI's dilemma - he has created Frankenstein so he keeps the RFA page up as a service to readers and remains true to the spirit of capitalism.

[Joseph]

You make this site a better place, Johanna.  I am glad you are here.

My question revolved around your "happiness" to pay into being listed.  Since I have never paid to advertise, I don't really understand the cost:value of it all.

By the way, I am glad that everyone can be assured that you are real!

#notapuppet

 

[jfoxcpacfp]

Joseph wrote:

You make this site a better place, Johanna.  I am glad you are here.

My question revolved around your “happiness” to pay into being listed.  Since I have never paid to advertise, I don’t really understand the cost:value of it all.

By the way, I am glad that everyone can be assured that you are real!

#notapuppet

 

Click to expand...

You just made me LOL. Thank you for the compliment - I enjoy chatting with the upper crust :-)

Why would you need to advertise, anyway? Are you saying that you have done a lot of advertising you didn't have to pay for (?) or just that you've never had the need to do so?

You'll not be seeing Fox & Co at halftime on the Super Bowl, but I've dabbled in marketing and advertising all of my career. I've always been fascinated by what works and what doesn't.

[brainsrus]

I second Joseph on this: I am very glad that you are here Johanna, and I do hope that you help other clients and its a win-win for all.

You are patient, quick to give needed advise and in my opinion very knowledgeable in your field... while a few of us are die hard DIYers, as the WCI preaches, I know many would want and need help and hopefully they can connect with someone like you.