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Why are you still paying an advisor when your investments are not growing?
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:
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In difficult times, your advisor motivates you to remain invested.
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Your advisor pushes back when you instruct her to chop and change your investments when you're unhappy.
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She tells you what you need to hear (not what you want to hear).
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You know what she charges for her services.
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You see her at least once a year.
For more detail, listen to the interview in the audio below.
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
This article first appeared on 702 : Why are you still paying an advisor when your investments are not growing?
Copyright : Free for commercial use. No attribution required.Source : https://cdn.pixabay.com/photo/2018/02/20/11/41/audit-3167425_960_720.jpg
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