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MyMoney Online

Why are you still paying an advisor when your investments are not growing?

20 September 2019 1:19 PM

Should you DIY? Personal finance expert Warren Ingram answers definitively, shares tips on telling if an advisor is good or not.

Your investments are not growing – why are you paying your financial advisor?

Is there an actual benefit in paying for advice, or should you go it alone?

Eight out of 10 small investors with a good advisor retire with enough money, according to research by Vanguard (the world’s largest index investor).

Vanguard research also shows investors with good advisors achieve 3% more growth in their investments than those who are unadvised.

The key outtake?

You need a good advisor (and a bad advisor is worse than having none)!

Arabile Gumede (in for The Money Show’s Bruce Whitfield) asked personal finance expert Warren Ingram (Galileo Capital) how to tell if you have a good advisor.

Ingram gave this handy checklist:

  • In difficult times, your advisor motivates you to remain invested.

  • Your advisor pushes back when you instruct her to chop and change your investments when you're unhappy.

  • She tells you what you need to hear (not what you want to hear).

  • You know what she charges for her services.

  • You see her at least once a year.

For more detail, listen to the interview in the audio below.

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20 September 2019 1:19 PM


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