Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   Investment Talk (https://www.talkofthevillages.com/forums/investment-talk-158/)
-   -   How many are loving paying their financial advisor now? (https://www.talkofthevillages.com/forums/investment-talk-158/how-many-loving-paying-their-financial-advisor-now-332175/)

NatureBoy 06-08-2022 05:20 AM
Quote:
Originally Posted by coralway (Post 2103762)
Financial adviser?

Never had one, never will. Do your own dd.
That’s like saying, “Auto mechanic? Never had one, never will.” Or “Accountant? Never had one, never will.” “Plumber? Never had one, never will.”

Managing finances can be complicated. And even if you don’t find it so, others do.

rjm1cc 06-08-2022 07:32 PM
Your financial planner is not a market timer. If that is what you need then you should not be hiring a planner.

Stu from NYC 06-08-2022 07:37 PM
Quote:
Originally Posted by rjm1cc (Post 2104132)
Your financial planner is not a market timer. If that is what you need then you should not be hiring a planner.
And if he says he is than run

capecoralbill 06-09-2022 06:36 AM
Quote:
Originally Posted by kathy1516 (Post 2097699)
I’m one of the unlucky ones that had GWG bonds and lost half my investments when they filed Chapter 11. My CFP said he got taken too. Not sure I believe that, but I plan to enter a class action lawsuit to see if I can recover anything.
Kathy, I went to a Michael Whitaker and Associates LLC, free lunch seminar back in January 22, 2019, he was pushing that GWG L bond with the high interest rates. It was very appealing and he seemed legitimate, but three years later and your money is gone. I don't believe I'll be taking anymore free meal financial seminars. I am sorry that you lost your money.

Stu from NYC 06-09-2022 07:04 AM
Quote:
Originally Posted by capecoralbill (Post 2104224)
Kathy, I went to a Michael Whitaker and Associates LLC, free lunch seminar back in January 22, 2019, he was pushing that GWG L bond with the high interest rates. It was very appealing and he seemed legitimate, but three years later and your money is gone. I don't believe I'll be taking anymore free meal financial seminars. I am sorry that you lost your money.
We have gone to a number of the free dinners and listen to them and very rarely will they voluntarily reveal their background. Mostly they are there to sell annuities.

Depending upon the restaurant can be a very nice dinner though.

RPDaly 06-09-2022 11:59 AM
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Stu from NYC 06-09-2022 12:42 PM
Quote:
Originally Posted by RPDaly (Post 2104432)
Too many just put you in pedestrian mutual funds that already have a fund manager taking a built-in commission from you to manage your investment. They think that is worth them taking some of your wealth. Many then have no real knowledge of market direction and tell you regardless of your age and how unhappy you are after you got their last monthly statement and see how much your portfolio dipped that you need to invest for the long term and not time the market. If I am going to give someone 2% of my wealth they better well know how to time the market.
If they knew how to time the market they would be multi billionaires and would have no reason to bother managing other peoples money.


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