How to deal with a financial planner (CFP)

Let's cut to the chase here -- I've been given "free" money. Not really, it's free! FREE! You just have to . . .

So started my newest conversation with a CFP / sales representative with a major bank / insurance company / mortgage lender / broker. No conflicts of interest here right? So a typical engagement involving what to do with the "free money" I'd been given. First, though my employeer had been oh so generous in providing matching funds when I contribute I still felt conned and shackled. Indeed, after a couple years of recieving the contributions, I ultimately stopped contributing anything to my 401k. Despite the matching funds and my foresight (or luck) to get out of the market before the big finacial fallout I still lost money. This was due to me being unable to chose the broker or investments to invest in. Sadly, this is steadily becoming worse as pension plans (and the impending bailout) are increasing displaced by lackluster retirement accounts. The laws can change at any time (and they will), but most are being misled into staking there life and work on a single number. It's a fools' game and I want no part.

So back to the CFP, what to do with him? I'm now being shown some boxes and asked to chose which one I like the best. Perhaps color plays a part here, or commissions, or just the person's current attitude and emotion₁. The boxes of course are some sort of rehash of the MorningStar boxes which attempt to define risk and performance. A pretty graph of course shows you how the whole procedure will work. You contribute $X a week for XX years, and at the end of the rainbow *poof!* you retire a millionaire. Nonetheless, a choice is made and money starts to funnel. Into the acount, into the CFP's company coffers, and to those manipulating the investments.

I shake his hand, thank him for his time and in a flash he's gone. I feel ill and internally lash out against myself for not striving harder to take control.

How else can I deal with a CFP? I don't believe him. I don't want what he is selling. At the end of the day, he knows I'll sign the paper anyway. And so do I.

1. Seriously, I'm sure it would make a fascinating study of how the box is actually chosen. Assigning logic to the choice would only make explaining the choice worse. Human actions can be controlled, but not predicted :-)