Quote:
Originally Posted by Dave-Katherine
Why not take care of your own medical and dental needs while you are at it. And do all of your own car repairs, home maintenance and lawn work.
In my opinion there is real value in hiring a professional to take care of these things. Of course, its your money, and your time, spend it as you wish.
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This sounds good, but there is a huge fallacy in the statement. We know what a medical or dental "professional" had to do to become that "professional". There was additional schooling, there were boards to pass, continuing education.
What are the requirements for someone to become a financial "professional"? The answer is absolutely nothing! Most do get certifications such as the CFP and if you want to sell securities one needs to pass the Series 7 or General Securities Representative License test....but its a pretty low bar.
To put a doctor or dentist on the same shelf as a finance advisor is silly. I'm not knocking financial advisors, but due diligence examining their credentials, certifications, and education would be prudent.