Quote:
Originally Posted by casstony
Many of these people are primarily interested in the fees they can earn off your investment; with such conflict of interest how can you know who to trust? Educate yourself to the extent that you can pick which advice to follow.
I learned the hard way not to trust financial advisers after accepting bad advice just before the 1987 crash. After ending my career due to poor health last year I've had to worry about protecting savings again. Just for kicks I accepted an appointment with a Bank financial advisor late last year - his advice was to put everything into managed equities funds. I argued against that advice and got the same tired old lines about the sharemarket always going up over the long run. (it took 25 years for markets to exceed their peak prior to the Great Depression).
Here's one place you can get an understanding of current events:
http://globaleconomicanalysis.blogspot.com/ |
That's what I did , and I came to the conclusion that none of them had my best personal financial interests in mind .... I did my sums and made my own decision.