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Old 03-30-2011, 08:56 PM   #41
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Is there any evidence that fee based RIA's that earn 200-500K have yields for their clients than mutual fund managers who seem to earn 300k to 5 million a year and seldom beat the stock market indexes for more than what might be statistically coin flipping chances?

I realize this may sound insulting, but along with all the disclaimers of results that people in the financial industry make, I personally have yet to find anyone at the broker ranks who knew what to buy consistently. Even if they got lucky at selling me something, they never had an exit strategies. "Buy it and keep it with me" seemed to be the mantra.

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Old 03-30-2011, 11:08 PM   #42
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Join Date: Jul 2005
Location: Los Angeles area
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I enjoy financial planning (for myself), and would no more pay someone else to do it than I would pay someone else to ride my bike for me.

learn, work, save, invest, fire
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Old 03-30-2011, 11:24 PM   #43
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Location: Hong Kong
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Originally Posted by CyclingInvestor View Post
I enjoy financial planning (for myself), and would no more pay someone else to do it than I would pay someone else to ride my bike for me.

That said, some types of investors would benefit from some handholding:

1. those who are just starting out, need to be educated and don't trust random strangers on the internet - someone to teach how to invest, what to invest in, what not to invest in etc

2. those who tend to let their fear and greed get the better of them - someone to calm people down in times of irrational exuberance and irrational panic

At some point, I will have to start teaching my children about all this.

Budgeting is a skill practised by people who are bad at politics.
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