Financial Advisor Investments

I have an advisor who isn't advising very well. I'm not getting much bang for the fees that I pay. The investments I've made on my own are outperforming the funds my advisor controls. I don't really want to transfer to another advisor, who will do the same job of ignoring my needs. I'd like to transfer everything to myself, since I can't sell anything in this down market. How do I go about this?

I think many people entrust money to advisors because they don't have the confidence, or they have little interest, or they believe the advice is automatically going to be superior coming from a "professional." Only a few think outside the institutional box. I think they should make money only when they make money for their clients.

Talk to your advisor about the mechanism. Don't be afraid to simply tell him that you've decided to say, "Thanks for your past advice but I'm confident I've learned enough to manage things on my own and I'd like to take control of my account."

And don't fear handling things yourself if you've got a bit of a mind and interest in doing your research. Good advisors are really tough to find. They love to collect your fees while underperforming, in most cases.

Most transfers of securities are quite simple from one account to another. Just ask for the forms to move your securities or mutual funds to the account where you already have investments.

2008-11-08 19:12:55 by seal

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If going through a financial advisor is a compulsion, can anyone suggest a good financial advisor company and what are the standard brokerage pattern?
this question is in context to united kingdom only..

If you have the inclination, check out Fidelity. I use them in the U S. They provide excellent service and will help you with your investments.

http://www.fidelity.co.uk/direct/

2006-12-06 23:02:55 by shiny

Price: $7.99

I have already considered becoming a pimp, but I feel as though it would take up far too much of my energy. So I was wondering what are some of the best financial investments out there- and how would I go about finding a financial advisor?

a Certified Financial Planner(CFP) is someone who works for your benefit, not to sell you investments. They can advise you in everything from company benefits to insurance and living trusts to asset allocation.from retirement to saving for your kids education.

search the internet for the following just to get some preliminary info.
roth ira vs ira
large small mid cap
growth vs value
indexed mutual fund
asset allocation

what are good investments... it is so dependant on your situation
do you have some emergency savings
do you have a 401k
do you have an ira
your age
any kids
how much you have to invest

yahoo finance has some basic investing education

Suze Orman is a CFP. she has a column on yahoo finance and a tv program. She gives a lot of good baisic advice
http://finance.yahoo.com/columnist/archi ves/headline/moneymatters/2006/1

2006-07-22 00:16:35 by Karmically Screwed

Price: $30.00

Rich, you should avoid blanket statements.

Starting with CFP's is a good idea. you can use the Financial Planning Association's Planner Search feature on their website (www.fpa.net) to find a list of CFP's near you.

As far as annuities go, they have their uses. To assume that an annuity is wrong for you without knowing anything about you is not very objective.

Don't be afraid to ask hard questions when interviewing planners.
Questions to ask:
How do you get paid?
Who is your broker/dealer and how do you determine what financial products to use?(Some B/D's apply pressure to their representatives to sell proprietary products over others. You want to avoid this.)
How long have you been providing financial advice?
Do you have clients that would be willing to talk to me about your services? If not, why?

If the planner gets nervous or evasive about answering these questions, don't bother asking any more questions. A trusting relationship with a worthy financial planner is an incredibly valuable relationship.

2006-02-15 18:16:46 by torpe

Most firms want a bachelor's degree (4 years), or experience...

Depending on the company:

1) Series 10-55 --- Life, accident and Health Insurance (took me 7 days).

2) Series 6 --- Investments, variable limited rep. (took me like 9 days).

3) Series 63 --- Uniform Securities state law exam (took me 7 days).

4) Series 7 --- General Securities Rep. Exam (took me 10 days).

Depending on your ability to learn, it'll take you around 1-3 months. My firm gave me a month and a half to finish my licenses (i took the 7 w/ the extra time I had.

Pretty much, you have to learn 3-4 different books, in and out, as questions do get very detailed. Books range in size from 300-400 pages.

2009-05-03 06:49:38 by Doni