Comments on: The “Other” Investments…and the Three Financial Advisers http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/ saving generation Y Fri, 10 Feb 2012 13:02:58 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Flow Through Shares... Explained! | youngandthrifty.ca http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-9500 Flow Through Shares... Explained! | youngandthrifty.ca Sat, 11 Jun 2011 04:14:24 +0000 http://youngandthrifty.ca/?p=1140#comment-9500 [...] out my post on my “other” investments.  As you know, initially in my personal finance journey, I was tax savings hungry and all I cared [...] [...] out my post on my “other” investments.  As you know, initially in my personal finance journey, I was tax savings hungry and all I cared [...]

]]> By: Udayan Chattopadhyay http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-9223 Udayan Chattopadhyay Fri, 27 May 2011 12:06:23 +0000 http://youngandthrifty.ca/?p=1140#comment-9223 I haven't had a d'oh experience yet and I intend not to have such experiences. I completely agree that one needs to be careful with one's own hard-earned cash. Hire a financial adviser if you have to, however, make sure both you are on the same page. There is a thin line between advisers and salesmen, and I would advise you to differentiate the two for obvious reasons. I haven’t had a d’oh experience yet and I intend not to have such experiences. I completely agree that one needs to be careful with one’s own hard-earned cash. Hire a financial adviser if you have to, however, make sure both you are on the same page. There is a thin line between advisers and salesmen, and I would advise you to differentiate the two for obvious reasons.

]]> By: youngandthrifty Net Worth Update: February 2011 | youngandthrifty.ca http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-6713 youngandthrifty Net Worth Update: February 2011 | youngandthrifty.ca Mon, 21 Feb 2011 15:43:58 +0000 http://youngandthrifty.ca/?p=1140#comment-6713 [...] you’re wondering what I hold in my Other investments- check out my post long [...] [...] you’re wondering what I hold in my Other investments- check out my post long [...]

]]> By: Roger Wohlner http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-3463 Roger Wohlner Sat, 30 Oct 2010 22:36:24 +0000 http://youngandthrifty.ca/?p=1140#comment-3463 @Kellen @Young The value of a financial advisor is a third-party perspective on your situation. Make sure the advisor is fee-only and that they have worked with clients whose situations are similar to yours. Ask the prospective advisor many questions, you want to make sure that you are getting the best advice possible. @Kellen @Young The value of a financial advisor is a third-party perspective on your situation. Make sure the advisor is fee-only and that they have worked with clients whose situations are similar to yours. Ask the prospective advisor many questions, you want to make sure that you are getting the best advice possible.

]]> By: Roger Wohlner http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-3462 Roger Wohlner Sat, 30 Oct 2010 22:33:17 +0000 http://youngandthrifty.ca/?p=1140#comment-3462 @ Young Sorry for the very belated response. First of all some advisors work under a fee-based model. This means they might charge a fee for a financial plan, but implement the plan with commissioned products. In my opinion this is very deceiving to the public. Fee-only is just that, advisors working under this model earn fees from their clients, period. Many of my NAPFA colleagues work on an hourly as needed basis and might be appropriate for some of your readers who are just starting out or who have not accumulated a large portfolio as of yet. The Garrett Network is also a network of fee-only, hourly planners, many of whom are also NAPFA members. For an explanation of the difference between fee-only and fee-based please check out this post I wrote last year. http://wohlnerfinancial.blogspot.com/2009/11/how-is-my-financial-advisor-compensated.html @ Young Sorry for the very belated response. First of all some advisors work under a fee-based model. This means they might charge a fee for a financial plan, but implement the plan with commissioned products. In my opinion this is very deceiving to the public. Fee-only is just that, advisors working under this model earn fees from their clients, period. Many of my NAPFA colleagues work on an hourly as needed basis and might be appropriate for some of your readers who are just starting out or who have not accumulated a large portfolio as of yet. The Garrett Network is also a network of fee-only, hourly planners, many of whom are also NAPFA members. For an explanation of the difference between fee-only and fee-based please check out this post I wrote last year. http://wohlnerfinancial.blogspot.com/2009/11/how-is-my-financial-advisor-compensated.html

]]> By: young http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-3461 young Sat, 30 Oct 2010 22:13:04 +0000 http://youngandthrifty.ca/?p=1140#comment-3461 @Kellen- I personally feel no REAL benefit to financial advisers, unless they are the financial advisers that you pay for their services (so that they are commission free). Buy and hold is a good mentality to have, as long as you either do the dollar cost averaging or buy your funds with the "value" technique (buy dirt-cheap low). Thanks for commenting Kellen! @Kellen- I personally feel no REAL benefit to financial advisers, unless they are the financial advisers that you pay for their services (so that they are commission free). Buy and hold is a good mentality to have, as long as you either do the dollar cost averaging or buy your funds with the “value” technique (buy dirt-cheap low). Thanks for commenting Kellen!

]]> By: Kellen http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-3459 Kellen Sat, 30 Oct 2010 20:35:11 +0000 http://youngandthrifty.ca/?p=1140#comment-3459 So far, I've never really felt the need for a financial adviser. Of course, I don't have nearly the amount of resources to manage, but I plop all of my money into high-risk mutual funds with low fees and trust the market to take care of it for me. Once I have enough money, I might try trading stocks, but I tend to have more of a buy-and-hold (forever) philosophy towards investing. I'm not sure if I want to bother having to keep track of stocks. What do you feel like are the benefits of a financial adviser? Maybe I should think about getting one a few years down the road when I have more assets for them to manage :) So far, I’ve never really felt the need for a financial adviser. Of course, I don’t have nearly the amount of resources to manage, but I plop all of my money into high-risk mutual funds with low fees and trust the market to take care of it for me.

Once I have enough money, I might try trading stocks, but I tend to have more of a buy-and-hold (forever) philosophy towards investing. I’m not sure if I want to bother having to keep track of stocks.

What do you feel like are the benefits of a financial adviser? Maybe I should think about getting one a few years down the road when I have more assets for them to manage :)

]]> By: Yakezie Member Post- Young and Thrifty | Yakezie.com http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-2728 Yakezie Member Post- Young and Thrifty | Yakezie.com Thu, 16 Sep 2010 13:20:11 +0000 http://youngandthrifty.ca/?p=1140#comment-2728 [...] Initially I bought a lot of random mutual funds (with big lump sums of cash each time) and nodded my head to a lot of financial advisers.After reading my financial statements and seeing the dismal drop in my mutual fund returns, I [...] [...] Initially I bought a lot of random mutual funds (with big lump sums of cash each time) and nodded my head to a lot of financial advisers.After reading my financial statements and seeing the dismal drop in my mutual fund returns, I [...]

]]> By: young http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-505 young Sun, 14 Mar 2010 15:32:36 +0000 http://youngandthrifty.ca/?p=1140#comment-505 @Roger Thanks for visiting! Perhaps those select advisers are the ones Financial Samurai was referring to. Is there a certain minimum portfolio amount to be able to have an adviser like that? I personally haven't come across any like that, but I'm sure they are available- guess I'm not looking in the right place! Actually, the THIRD adviser (the one who sold me the riskiest products), I thought she was a no-fee adviser, but afterwards realized she wasn't. You're right Roger, Advisers who sell financial products really cannot give unbiased advice... how can they, really? To earn their living they must sell, sell, sell, even in a product they may not believe 100% in! @Roger Thanks for visiting! Perhaps those select advisers are the ones Financial Samurai was referring to. Is there a certain minimum portfolio amount to be able to have an adviser like that? I personally haven’t come across any like that, but I’m sure they are available- guess I’m not looking in the right place! Actually, the THIRD adviser (the one who sold me the riskiest products), I thought she was a no-fee adviser, but afterwards realized she wasn’t. You’re right Roger, Advisers who sell financial products really cannot give unbiased advice… how can they, really? To earn their living they must sell, sell, sell, even in a product they may not believe 100% in!

]]> By: Little House in the Valley http://youngandthrifty.ca/investing/the-other-investments-and-the-three-financial-advisers/#comment-503 Little House in the Valley Sun, 14 Mar 2010 13:45:11 +0000 http://youngandthrifty.ca/?p=1140#comment-503 [...] and Thrifty: I’m a regular reader now, so check out her “Other” Investments post. Increased her traffic by 34%, you go [...] [...] and Thrifty: I’m a regular reader now, so check out her “Other” Investments post. Increased her traffic by 34%, you go [...]

]]>