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Subject:  Re: Talk me out of a Financial Advisor Date:  6/4/2013  8:40 PM
Author:  rainphakir Number:  72436 of 88051

Hi Murray
you asked for 'experiences' with FAs

My experience is the common experience that many here tell you to RUN from.

In the 1980's, I was financially illiterate, and put a traditional IRA and rolled-over 403b's into the hands of an FA.

Meanwhile, knowing that I was illiterate... I found the TMF in the mid 1990's ... and Intercst's Retire Early Homepage, and over time, became much more financially literate.

after learning a LOT... and investing some of my own monies in a cash account, and AFTER the run up of the late 1998 to 2000... and then the crash, I pulled the monies from the FA.

The monies that were being handled by the FA increase 3 fold... and crashed back to the original sums during the crash. I moved the monies to self managed IRA's. I didn't actually lose any 'wealth', but I didn't gain any either.

Under my direction, without paying any fees to FAs, I've managed to grow my accounts.

YMMV. I do believe that every investor has to be happy with his/her choices... therefore, I can agree with the posters who've outlined THEIR reasons for choosing to work with an FA.
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