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Do You Use A Financial Advisor?

ame

Super_Ideal_Rock
Joined
Jul 7, 2004
Messages
10,875
Dancing Fire|1321574685|3064052 said:
ame|1321573851|3064042 said:
We do. We've used the one through the bank before, as well as StifelNicolas locally but we were not feeling like our advisor was "on top of things". Like when the huge crash happened, they waited to call my MIL about anything being moved, and she lost 6 figures and they were like "yea we just didn't get to it". Unacceptable. We moved our stuff to Edward Jones about two years ago. It's been ok. I don't think DH likes the person we are with much though. He doesn't like when people like...want to be his friend in this instance. And she likes to chat and get to know people. DH lives under rock.
that's what i meant about FA,cuz when they lose it ain't their $$$s.
Yea my husband had a MASSIVE problem with that, and it's why we moved our money IMMEDIATELY. His dad really liked this place and this particular person but his dad was INCREDIBLE with his portfolio, and was on them like stink on sh!t all day long. He would never have let such a thing occur. But now that he's gone, and she's not well versed in this stuff I feel that guy took serious advantage.
 

richepeterson

Rough_Rock
Joined
Aug 3, 2012
Messages
1
Many companies provide the financial advisors for many of the customers. With the development of technology, Through online we solve our financial problem and find the best solutions for our needs. Many professionals financial advisors are there, providing with best financial solutions. One of my friend had a financial advisor and he provide the correct solutions in correct time. Please produce some more attachments about the topic for view detail information.

specialist offshore services
Financial Advisor Kenya
 

natascha

Brilliant_Rock
Joined
Aug 10, 2010
Messages
644
Independently if you choose to use a financial adviser or doing it yourself , you need to think about the big picture. Start with figuring out what your aims are. Are you looking to build up a comfortable nest egg, invest discretionary income, have a good retirement, etc. Of course most of the time you will have several different aims with different maturities. These will often need different investment strategies.

Next is the vital step of figuring out your risk profile. Many seem to forget that high return nearly always means high risk, unless you know something that the rest of the market does not. Understand that you are not going to get money for nothing, since if that were the case it would drive up the price of the stock/bond until the return equals the risk once again. After considering your risk profile divide up your investment cake, you might want a certain percentage in CDs, another in low risk stocks and bonds, maybe a small percentage in more high return/high risk stocks, etc. Please keep a certain amount in cash or easily convertible to cash, like Phoenix describes,in a high yield bank account that does not heavily penalize withdrawals.

One big mistake that some small investors make is that when the economy tanks and their investments go down they freak out and sell. If you want a long term investment (say for your retirement) and you have invested in a good stable stock and nothing has truly changed in the underlying company, then don't sell. The stock will go up again (notice, not all stocks will, some may have taken an irreparable hit or even gone bankrupt). Selling a good stock now in an economic downturn, without having something better to invest in, will just lose you money.

For many small investors that don't have the knowledge or time to handle their portfolio or whose investment is to small for it to be reasonable to have a sufficiently diversified portfolio, investing in funds is a great idea. But you need to do your homework and find a 2-4 that not only have a good portfolio manager, but also have the same risk profile that you do. If you are a risk averse person investing your nest egg than you don't want a high return /high risk fund.

Most importantly, as iLander has already said, do not invest in something you don't understand!!!
 

CJ2008

Ideal_Rock
Premium
Joined
Dec 31, 2006
Messages
4,750
I'd love to find a fee-only financial advisor, but I've never found one that I liked enough or trusted enough to use. It seems DH might have one through work so we're looking into that.
 

TooPatient

Super_Ideal_Rock
Premium
Joined
Sep 1, 2009
Messages
10,295
Natascha -- Figuring out your comfort with risks is a big one.

One of the guys I meet with always tells his new clients that if they find themselves checking stock prices every day or worrying about what the market is doing frequently, then they need to let him know so he can adjust their holdings to something they are comfortable with.

People often say that they are comfortable with X, Y, and Z but then when they have it they find that they are allways worried about Z and should stick to just X and Y.

Listen to your advisor too when deciding this. I have to explain to people all the time that our supervision department interprets "Low Risk" as bank CDs so if they really want to check the box for "Low Risk" they won't be able to have anything but CDs.
Our broker/dealer has low, medium, medium-high, and high risk categories. 90%+ of all of our clients fall in "medium-high" because of the restrictions put on "low" and "medium".
Keep in mind that YOU are still in control of your account. Your advisor can't make a trade without talking to you first and getting your okay.
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
33,852
richepeterson|1343986727|3245307 said:
Many companies provide the financial advisors for many of the customers. With the development of technology, Through online we solve our financial problem and find the best solutions for our needs. Many professionals financial advisors are there, providing with best financial solutions. One of my friend had a financial advisor and he provide the correct solutions in correct time. Please produce some more attachments about the topic for view detail information.

specialist offshore services
Financial Advisor Kenya
tell your friend i'm selling The Golden Gate Bridge for a million buck!!... :praise: send $$$ to Kenya??... :Up_to_something: :nono:
 
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