Quote:
Originally Posted by 59whiskers
If a financial adviser cannot generate at least 5 to 10 percent rate of return on a portfolio it is time find someone who will. It might not hurt to find another advisor to invest with at the same time. Let the 2 advisors compete for your investment business. Did that with GIC’s and mutual funds back in the day.
|
What you suggest is theoretically sound, the only problem is that the nest egg you'll be investing needs to be large enough to interest a skilled investor. If you start with 100k and split that between 2 advisors (with an assumed fee of 1%) I seriously doubt you'll interest anyone with more than a childs understanding of investing. If the nest egg is significant, you probably don't need a lot of guidance in investing.
I do agree that you need to educate yourself both on investing tools (ETFs vs GICs vs bonds vs stocks etc) as well as risk and investable industries. Keep in mind stock promoters are everywhere and data can be pared to support many BS stories. You are the only one who can protect yourself no matter what the investing guy tells you. I accept about 1/3 of the suggestions my guy makes...he is a salesman after all.