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Subject:  Re: Talk me out of a Financial Advisor Date:  6/4/2013  5:06 PM
Author:  AngelMay Number:  72430 of 88533

1. Any kind of illiquid investments: DO NOT BUY. period. A family financial adviser is getting fired soon because of this. I got convinced by him, put some money in and guess what.....the seller is a crook, grabbed the cash and took off. Mutual funds, stocks, bonds, cash, all are fine.....but don't get sucked into some off the wall limited partnership.

This means Thomas Kinkade "paintings" are not an investment. The house you are living in is not an investment. Diamonds are not an investment.

3. Yeah, Ameriprise fees are high. Ergo, don't trade every time he suggests. It does take a bite out of returns.

This means... make it clear to him that he does not have the authority to buy and sell FOR you without your knowledge and consent.

4. If he doesn't beat his benchmark after a full market cycle, fire him and buy some mutual funds according to your risk tolerance, expected needs versus rates or expected returns, and properly diversified (value, growth, international, some bonds some cash).

And now we are back where I suggested you go in the first place. Except for the bonds. For some reason I've just never liked bonds. Well... except for that one year a loooooooooonnnnngggggg time ago when my bond fund(s) made over 20%. :)

....disclosure: have no bond fund(s) today....
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