gcgang
Thinks s/he gets paid by the post
- Joined
- Sep 16, 2012
- Messages
- 1,571
Am I being naïve that since my financial advisor at Ameriprise has CFP & CRPC designations that she should be acting in my best interests as far as growing my money and making the best investments? Despite the front-loads and high expense ratios, maybe the funds perform better than other funds and make up for those fees? Am I just being optimistic and hopeful?
?
Rules of Conduct - CFP Board
Above links to Code of Conduct for CFPs. I do not believe there is any mention of acting as a fiduciary.
I don't think you are being optimistic and hopeful, unfortunately, I think you are being borderline delusional.
You can do this on your own, with the help of some study on your part. But you must have the fortitude to develop an appropriate plan and stick to it when the inevitable corrections occur. Passive indexing, eliminating the layers of fees you are currently saddled with, will make a HUGE difference.