Quote:
Originally Posted by tcxr750
I’ve had my IRA with advisors on the Barrons list. Didn’t help during the Great Recession. My thought is to ask what has been the average client portfolio performance for the past (your choice) number of years. Then you’ll have something to compare against other advisors.
Would you buy a performance car if you couldn’t see the figures on how it performs?
If you get the response “my mother has her retirement money with me”....keep looking.
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When I was in my 20's, I had a coworker who kept pushing the greatness of his financial advisor.
Being fairly new at investing, I decided to go in for a free consultation.
As I was sitting in the parking lot afterward, I saw the guy I had just talked to (and I admit, he 'sounded' great with lots of terminology I was clueless about and seemed to know what he was doing)...get in his car.
It was an old beater, but more importantly, was covered with dust & dirt...indicating to me he wasn't big on details.
A light bulb went off and made me think...
"if this guy is so good, why does he look so broke?" 
And yes, I also took into account that maybe he was really filthy rich and driving cheap cars (like Warren Buffett)...is one of the ways he was able to become wealthy.
It was his lack of taking care of what he had though...that tipped the scales for me.
Which made me think of Trevino's famous quote...on why he didn't have a golf coach.
Trevino's answer was basically (paraphrasing)...
"because I haven't found one that can beat me." 
So I decided then & there, I would educate myself as much as possible and at least then...I would be solely responsible for any failures/successes.
I've never looked back...and certainly don't regret my decision.
