Hi, Josh:I am a financial planner who has been in the unenviable position ofmanaging money for friends and family until I got smart and quit acceptingtheir accounts. I now refer my close friends and family to a trustedcollegue.Why? Because inevitably there comes a day when an investment just doesn'twork out. That's just the nature of investing. And the closeness of ourrelationship is at odds with my need to be objective when I giveinvestment advice. The more detached the relationship, the more objectivethe advice.Sooner or later your friend will be in the position of having to break badnews to you and you will likely feel a strain in your relationship. Buyyour life insurance from your friend and maybe even the financial plan.But if you value your friendship with this person, implement the planelsewhere.Just my two cents worth.Gary Hannah ChFCChartered Financial Conslutant
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra