With some research anyone can pick a decent Mutual Fund.....Why pay an extra fee for someone to hold your hand?
2007-03-10 05:50:44 · 8 answers · asked by NAMELESS ID 1 in Business & Finance ➔ Investing
many are clueless about financial investments and the routes to take. a finanical advisor can provide MUCH better financial advice or decisions (if they are good) and make you much more money in the long run. If you find a good advisor you should stick with them for life. Their fee will be marginal compared to potential returns.
2007-03-10 05:53:51 · answer #1 · answered by floridagators519 2 · 1⤊ 0⤋
People are either lazy, or don't have the time to do their own research, or they're just not interested. A planner is supposed to do the "asset allocation" and diversification.
Too oftern, they sell the client an insurance policy or an annuity or a high risk mutual fund with a heavy "load". The planner gets a fat commission and the client is skrewed.
People are much better off doing their own homework.
2007-03-10 06:39:35 · answer #2 · answered by ? 6 · 1⤊ 0⤋
i could pass with mutual money. Annuities have an stronger danger. Paying off the residing house should not be achieved with retirement money. Too many retirees finally end up with a paid off residing house, yet no money to do the rest. in simple terms placed 15% of your enjoyed ones earnings right into a retirement fund, and pay off the residing house early by skill of making additional funds. a extra perfect description is on Dave Ramsey's website.
2016-11-23 19:30:06 · answer #3 · answered by ? 2 · 0⤊ 0⤋
The only time I recommend a financial planner is when someone has neither the inclination, nor the time frame to do their own research.
Financial education takes time. Not everyone is willing to invest that time. And most particularly when someone has a sudden, unexpected, change in their financial picture (like they suddenly got a windfall inheritance, or won a legal settlement) they may be paralyzed by the indecision just long enough to blow everything.
It's also not good enough to understand what you're investing in, you need to understand the tax implications of those investments.
2007-03-10 06:06:54 · answer #4 · answered by ISOintelligentlife 4 · 0⤊ 0⤋
A good financial advisor can definitely add to your returns while reducing your risk! Most people don't realize that over 85% of their returns are attributed to asset allocation, not fund selection. A financial advisor can make sure you have the proper asset allocation, thus adding to your returns. Most people who are against financial advice have never worked with a good advisor. Like FloridaG below, Iagree that the fees are marginal when compared to the added peace of mind and return on investment. Search engines like Yahoo have a vested interest to promote no-load funds because that's who is buying all the advertising from them.
2007-03-10 06:32:12 · answer #5 · answered by bigfella422 2 · 0⤊ 1⤋
Let me know if you can find a Mutual Fund returning over 90% annually every year for a decade.
2007-03-10 18:54:43 · answer #6 · answered by Anonymous · 0⤊ 1⤋
it depends on your age - I am older so I have mostly mutual funds and CD's but if you are young you can certainly find good stocks to buy and research them
I see no need for a finanial planner
2007-03-10 05:55:02 · answer #7 · answered by ekleinert 3 · 0⤊ 0⤋
Don't even get me started on that sales industry.......The worlds largest "skimming" operation charging excessive fees and maintenace costs keeping the poor -poor.
The Government should have stepped in DECADES ago to shut them down!!!!!
ARGH!!
2007-03-10 05:54:09 · answer #8 · answered by Anonymous · 0⤊ 0⤋