Don't do anything different. Stay on coarse.
Stay away from social media. You are doing well.
Anyone switch their financial/wealth planner from a bank to an independent?
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Stay away from social media. You are doing well.
Yeah, you got to block out the noise.
Feel free to share your concern with your manager and have a discussion about how you feel about the market/economic uncertainty...a large part of their job is assuring clients to stay the coarse and help clients see the forest from the trees so to speak.
However if the performance has generally been well and your manager has consistently outperformed the market, he/she seems worth keeping.
Good advice. Funny how my brain works. Almost everyone in social or professional life which I should regard as smart and experts have told me similar things. Something about getting random advice from a community like this one, where we all share interests for the most part that isn't at all public, seems more trustworthy. This Board has people from all walks of life but we're all here because of something I can really relate to. If these men are as horny as I am, they must have good judgement!
Block out the noise. This is what I shall attempt to do. Thank you
Let me tell you a secret. be it a independent financial/wealth planner or a bank financial/wealth planner, they will give you advice to make a little more than you would make if you put your money in a mutual fund. I was told by a financial/wealth planner that they have to do this to keep the clients money safe and if they earned a big amount this year the client would expect the same next year and every other year. This financial/wealth planner would not take his own advice as he knows how to make much more money than any of his clients.
I don't see any reason in having any funds with a fee based financial advisor. If you really want some help from time to time, hire someone once every couple years to go over things with you for a flat fee.
Giving an advisor 1 percent is completely loony. No way I'm giving 10k per million whether they win or lose. Almost everyone I know who is well off and not in finance just throws some money into some index funds/bonds and calls it a day. I do that plus have a bit of a gambling portfolio I use for fun, but even with this I invest in companies that I have done due diligence on and believe in.
Giving an advisor 1 percent is completely loony. No way I'm giving 10k per million whether they win or lose. Almost everyone I know who is well off and not in finance just throws some money into some index funds/bonds and calls it a day. I do that plus have a bit of a gambling portfolio I use for fun, but even with this I invest in companies that I have done due diligence on and believe in.
exactly, and this been studied professor William goetzmann and his colleagues.
based on his research, negative news regarding the market impacts people's view on what the market is gonna do than good news, so people tend sit out more than they should , way overestimating the probability of a crash and miss out on potential gains, especially since the market goes up way more often than not and hurting their long term returns (BlackRock study that said over 30 yrs, us equities have returned 8 percent per yr on avg, but retail money has earned 2 percent on avg because they're trying to get in and out at the right times but do the opposite).
I would recommend staying with the banks as they have access to all the different markets worldwide.
