Be aware that "in house" financial advisors, may be recommending funds to investors that the brokerage WANTS them to push. Schwab, like all the big brokerages, has numerous funds that sound very similar to each other in concept and strategy, but return very different results based on who manages that fund.
And yes, brokerages have internal contests for their reps to sign up clients for funds the company thinks aren't popular enough.
I have said it before and I'll say it yet again - you don't go with an independent CFP for the biggest returns or the "hottest stock/sector" of the month. You go to a CFP for what we call "holistic aka comprehensive, financial planning."
This includes going over all your legal docs - no financial advisor should ever take you as a client if you HAVE NOT completed your financial docs (we would take clients only on contingency if they had not done their legal papers, referring them to a list of estate attorneys they could choose from - they had 6 mos. to complete the docs or they were told to go elsewhere). It includes going over all your insurance policies to make sure you are adequately insured and that your risk level matches your long term goals.
Any time there is a change in your circumstances - which we defined as marriage, divorce, death, children, or change of job/career - it's time to check in with your advisor to make sure s/he is aware of your changed circumstances, because your financial goals could have changed.
I handled our investing while I worked because I enjoyed doing it. I did it pretty well, too. But when we retired I didn't want to do it any longer. Our financial circumstances were now different and there were tax considerations to manage, which is an area I'm not expert in.
Our independent CFP firm does an excellent job of tax planning on our distributions - we pay taxes only on 24% of the amount what we withdraw from our taxable account. Our CPA verifies they are doing an extremely good job of managing the taxes on our portfolio.
For the OP, you should do some reading on the financial websites. Schwab, Vanguard, Fidelity have some very good retirement and financial planning papers on their websites. fmdog44 is absolutely correct; it's what you DON'T know that hurts you. You can't ask intelligent questions to find the right advisor unless you learn some of the basics first.
Depending on where you live it can be hard to find an RIA nearby who is fee-only. There are some new websites that have sprung up in the years I've been out of the F/S industry, but the two "standbys" we used to refer people to were:
- NAPFA, the National Association of Personal Financial Advisors, is the nation’s leading organization dedicated to the advancement of Fee-Only comprehensive financial planning. Website is http://www.napfa.org/
- Garrett Planning Network is an international network of fee-only financial advisors and planners. Website is http://www.garrettplanningnetwork.com/
You want to find an advisor who has some other clients in similar situations/goals as yours. That first free visit isn't going to tell you much except whether you find the person likable. You still need to check references and collect redacted client reports, because each advisor differs on how they report results to their clients.
If the advisor is independent, I wouldn't work with anyone who hasn't been in business for at least 15-20 yrs. You want someone who holds your hand in the bad times and can help you come up with solutions when life-changing problems occur - because they inevitably WILL happen.
HTH, and good luck to you going forward.