I'm curious, how many here who are highly critical of financial advisors have actually used a financial advisor? If not, where did you form your negative opinion?I haven't used one, but if I do, it will be one who charges by the hour, not a salesman affiliated with a financial services company with a built-in conflict of interest that makes the company and the salesman weigh their interests ahead of my own when giving investment advice. Further, fees are certain. Returns are not. Also, past performance is no guarantee of future performance. If you base selection of a financial advisor on talking with people who appear (outwardly) wealthy, and whose stated impressions and opinions of the salesman cannot be examined by you for accuracy (because you're not in a position to sit down with their records and see if they are correct about their impressions regarding the fees they pay or the returns they're getting compared to, say, simply holding index funds), you're arguably basing a decision on impressions and salesmanship.
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