No. of Recommendations: 2
It's really my personal opinion. I've known many, many people who have used financial advisors, either insurance folks, financial planners, brokers, or whatever. In every instance, they've been sold a bill of goods that aren't in their best interests, but that are in the best interests of the person giving the advice. The folks I'm talking about who got scammed are high earners, usually with graduate degrees. They end up paying huge fees and getting low or below average returns, with high annual expenses. The stock brokers and insurance agents are the worst of the group. I particularly hate the way these so-called experts rip off the elderly by praying on their fears of going broke. Enough said. Yes, my opinion of these scammers is really hanging out there, but there's a good reason for it being that way.

I've read your opinions about financial advisors over the years. Your focus seems to be on investing. Financial planning is more than just investing. (It may be buzman that says that often in response.) There may be insurance concerns. There may be estate planning concerns. Financial planning is just not buy an index fund and forget it.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.