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This is true historically where you needed to pick an individual advisor who managed your portfolio based on their experience/etc. That’s not really how the maj
by soared 3y ago
This is true historically where you needed to pick an individual advisor who managed your portfolio based on their experience/etc. That’s not really how the major companies like fidelity run it anymore - an advisor gets their certification and then fully plays by the playbook and isn’t allowed to even have their own track record. So you’re not getting some guys advise, you’re getting a company’s extremely researched strategy they built for individuals who match your needs.
But really calling up any company and asking for a rep isn’t going to be great - I think being friends with someone who you trust as a friend first and then as someone who converts the playbook to your investments is best.
- ghaff 3y agoI like my financial advisor and all that. And he'll take into account my plans and any specific preferences I have. But, at the end of the day, he's mostly taking the output of his company's computer programs.
- thenerdhead 3y agoThe point of much of Harry Browne’s work is to be self-reliant and not trust the government nor big companies with your life decisions such as investments. Stop fooling yourself that these big companies are looking into your best interests. They aren’t. They are looking for ways to make activity on your investments and collect fees.
- Tempest1981 3y agoOk, but I know people who invest poorly and never rebalance. It's not a priority for them. Professional help would be a win-win for both, even after fees.
- jordanpg 3y agoThe issue is that these "advisors" have to get paid. And if you are paying for mass-produced advice, the margins are guaranteed to be small. This is the kind of advice that you can easily get if you research it, but might still be work intensive or error-prone to implement. The happy medium is robo-advisors, that get paid slightly less and implement the strategies for you.