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Who uses an investment advisor to help?
Old 02-24-2007, 06:42 PM   #1
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Who uses an investment advisor to help?

Pretty interesting article that is in magazine/web site that is wrtten for financial planners/advisors.

My question is for those of you who use the services of a financial advisor of some type, do you find that as you become more and more savy in the investment world, do you expect more of your advisor than you did prior to you taking an acive interest in the investment process? As you may expect more from him/her, how does your advisor respond to your upgraded inquiries?

Quote:
For these investors, another important source of information is the Internet. More than 90% of affluent households have access to the Internet at home. And--believe it or not--this percentage doesn't vary significantly by age. These individuals are routinely accessing personal information, paying bills and even trading securities online. At least 84% conduct investment-related research online, although this number does decrease slightly as an investor's age increases.
AND
Quote:
About 25% of investors currently consider themselves to be self-directed--meaning they make all investment decisions on their own. Alternatively, 63% use advisors to some extent. Only 12% of investors describe themselves as entirely dependent on advisors. The rest want to collaborate with advisors. This often means that advisors are spending a significant amount of time with individuals who ultimately will execute trades or purchases on their own. And that will cause advisors to re-evaluate how they're compensated for their advice.
http://www.onwallstreet.com/article....id=3532&pg=ros


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Re: Who uses an investment advisor to help?
Old 02-24-2007, 08:47 PM   #2
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Re: Who uses an investment advisor to help?

Wow, those are some interesting statistics. 63% of investors use advisors......I'll bet that percent is lower among this group. It would be interesting to see a poll. I don't think the folks in this forum are "your average investor". I am self-directed.
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Re: Who uses an investment advisor to help?
Old 02-24-2007, 08:59 PM   #3
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Re: Who uses an investment advisor to help?

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Originally Posted by dusk_to_dawn
Wow, those are some interesting statistics. 63% of investors use advisors......I'll bet that percent is lower among this group. It would be interesting to see a poll. I don't think the folks in this forum are "your average investor". I am self-directed.
A poll was done and is here: http://early-retirement.org/forums/i...p?topic=8324.0
If folks here use advisors, they don't really pay them or admit to paying them.
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Re: Who uses an investment advisor to help?
Old 02-25-2007, 01:52 AM   #4
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Re: Who uses an investment advisor to help?

Quote:
Originally Posted by mickeyd
My question is for those of you who use the services of a financial advisor of some type, do you find that as you become more and more savy in the investment world, do you expect more of your advisor than you did prior to you taking an acive interest in the investment process?
Absolutely

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Originally Posted by mickeyd
As you may expect more from him/her, how does your advisor respond to your upgraded inquiries?
Not well...and how he ended up fired (lowercase fired).
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Re: Who uses an investment advisor to help?
Old 02-25-2007, 08:41 AM   #5
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Re: Who uses an investment advisor to help?




I guess some folks need or want none of the responsibility associated with very important decisions.

My brother is that way. He pays a guy 1% per year ON TOP of any other brokerage fee you can think imagine. He knows hes getting screwed but ultimately he's ok with it.

He's also never been inside a Lowe's or Home Depot






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Re: Who uses an investment advisor to help?
Old 02-25-2007, 06:11 PM   #6
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Re: Who uses an investment advisor to help?

Yes I do expect more since I am learning. I feel like I should have more investment options since I know more of the investment world.

My FA questions my change of attitude somewhat. I am by no means ignorant, but since I am still in the learning process, I find that I question my decisions. It just makes me want to learn more so that I can come back to him with a logical reply.

Most of our investments are not with our FA...just a couple. He is a bright fellow that I believe can be of some benefit to us at this particular time.
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Re: Who uses an investment advisor to help?
Old 02-25-2007, 06:23 PM   #7
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Re: Who uses an investment advisor to help?

I don't have one, but I keep thinking I should. Maybe later.
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Re: Who uses an investment advisor to help?
Old 02-25-2007, 07:22 PM   #8
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Re: Who uses an investment advisor to help?

I learned a lot from our former FA. When she kept referring to us as "friends, not just clients", I knew something was wrong. A year of intense reading and being on this board helped me to figure it out and I learned a lot about how to simplify investments and save fees.
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Re: Who uses an investment advisor to help?
Old 02-25-2007, 07:28 PM   #9
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Re: Who uses an investment advisor to help?

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When she kept referring to us as "friends
LOL , What? Did she did not refer to you as "family", as in "this family has to stick together"? Of course, by "sticking together" the financial sleaze merchant finanial advisor means that you will be sending his/her kids to college. It's all about the family.
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