Quote:
Originally posted by CDSmith
It is very wise to be distrustful enough to check out anyone in this business. After all, they are being entrusted with your hard-earned money, thus your future. They had better be willing to jump through a few hoops to prove themselves to you, definitely.
Credentials are one thing, but it's only a start. "Proven track record" comes to mind..... I want to know how they've done for others, and I wanted proof. I also wanted to know what other financial people had to say about the company.
By the way.... I'm not necessarily talking about investing in commodities or the stock market. My investments, although aggressive, are still fairly low-risk. Most of the markets my money is in have returned 10 to 25% to investors over the past 20 years on average. I don't need a soothsayer here..... and neither do you. I needed a guy that knows the long-term investment market and could set me up with a solid future, period.
But good point hershie.
|
Well it sounds like you have thought it out in advance and are looking at a number of alternatives besides just stocks/mutual funds.
Unfortunately, in Canada a majority of people go to a bank... to set up a mutual fund, where they are given some ridiculous form where you agree whether you are a conservative or agressive investor, The choice is broad and flawed to try to fit you into one of three huge categories that its of no value. Many advisors then lead you into investments they represent...(like some mutual fund dealers are affiliated with and can recommend only certain mutual fund companies)...Some end up getting you to follow the flavor of the week...My own mom was screwed by her broker at the largest brokerage in the country. She was 66 and her broker (no doubt looking for a quick commission) told her to buy AT&T just before its massive dive. She should be in the mode of protecting her assets from risk at that age not gambling with her retirement money and when I caught wind of this - he used the trump card that she signed a form saying she was an aggressive investor 15 years earlier when she first started to use him. Its these kind of situations that make me have a bad taste at following anyone's advice.