Financial Advisors - Page 3 - 2CoolFishing
Home  |  Contact Us  |  Advertise   |   Follow:
Go Back   2CoolFishing > General Interest Forums > Investments and finance
Register FAQ Social Groups Calendar Mark Forums Read

Reply
 
Thread Tools Display Modes
Old 03-18-2019, 09:26 AM   #21
MontyHall1969
Registered Users-pm+
 
Join Date: Nov 13 2018
Posts: 122
Rep Power: 680265
MontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to PirateMontyHall1969 has been promoted to Pirate
Fidelity has one of the best trading interfaces. I think TD Ameritrade's is very poor. If you go with Fidelity, go to one of the branches and ask about free trades and cash bonus for signing up. If you are young, I would just get an S&P index fund. Most brokers cannot beat the S&P 500. I would slowly migrate a new account to an S&P 500 index as it is a bit pricey at this point.
MontyHall1969 is offline   Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
Old 03-18-2019, 09:31 AM   #22
mooneyflyfast
Registered Users-pm+
 
Join Date: Dec 31 2016
Posts: 23
Rep Power: 88413
mooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Matemooneyflyfast has been promoted to the rank of Chief Mate
If you are thinking about using a "financial advisor" you need to know if he is a fiduciary. In other words, does he have to put your best interests ahead of his? Chances are he's not. There are a lot of so called financial advisors who are really variable annuity salesmen who get 5% or more commission if you buy one. Also, full price commission brokers who make money when they get you to buy or sell a stock. What does this guy know that would enable him to do a better job picking stocks than the wall street guys?
mooneyflyfast is offline   Reply With Quote Quick reply to this message
Old 03-19-2019, 09:21 AM   #23
habanerojooz
Who said that was spicy?
 
habanerojooz's Avatar
 
Join Date: Dec 04 2006
Location: Houston
Age: 57
Posts: 1,055
Rep Power: 11161677
habanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Piratehabanerojooz has been promoted to Pirate
Quote:
Originally Posted by MontyHall1969 View Post
Fidelity has one of the best trading interfaces. I think TD Ameritrade's is very poor. If you go with Fidelity, go to one of the branches and ask about free trades and cash bonus for signing up. If you are young, I would just get an S&P index fund. Most brokers cannot beat the S&P 500. I would slowly migrate a new account to an S&P 500 index as it is a bit pricey at this point.
Regarding trading platforms, are you comparing Fidelity's Active Trader vs TDA's Think or Swim platforms?

Or are you comparing each other's standard website interface trading screens?

I've been using TD's Think or Swim. Very impressive. Highly technical and advanced. I recall with Fidelity's Active Trader you need to make a minimum of 36 trades a year. I have both a Fidelity and TDA account and like them for different reasons.

Warren Buffett recommends that his wife use index funds instead of other advisors when he leaves his money to her. He cites that historical statistics show that most advisors have not been able to consistently beat those indexes. Interesting comment coming from a famous professional investor that people look up to.

John Bogle of Vanguard was a pioneer in the indexed funds industry. Suggest to the OP to read about John B. and his philosophy on investing for more insight on this topic. Not as a pump for Vanguard, but to understand the early vision behind index funds and learn more about them. Give you more info to chew on before you switch to blind faith and turn all of your decisions over to a stranger.

I had an advisor for several years from one of the big firms. The returns were not good. I hated paying for something I thought I could do better at. I'm 100% on my own now and putting my money where my mouth is. Pleased to say that I'm doing well and I'm very happy that I finally cut the cord.

Good luck to the OP in finding an advisor they can trust.
habanerojooz is offline   Reply With Quote Quick reply to this message
Old 03-21-2019, 01:05 AM   #24
Twitch-Twitch-Boom
Registered Users-pm+
 
Twitch-Twitch-Boom's Avatar
 
Join Date: Jun 24 2011
Location: League City, TX
Posts: 908
Rep Power: 21478816
Twitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to PirateTwitch-Twitch-Boom has been promoted to Pirate
Quote:
Originally Posted by Muddskipper View Post
You get to choose what you want...



If your looking to trade individual stocks there are a lot of cheap options out there....



If you are looking for advice on how to preserve and keep up with inflation and help with avoiding making mistakes....your going to have to pay for it!

- your entire financial picture is not something you want to go to the cheapest person....nor do you take your advice from the internet.



There is a reason advisors pass a series 7 & 66....along with continuous REQUIRED education



If you were about to rebuild your entire motor.....would you do it yourself?- what if you needed it to carry you along way, and your life depends on it.....not many non- mechanics by trade would....

- my point is there are qualified professionals out there that can help.....and the cheapest is not the best.
Spot on mudskipper. When the market has risen for the last 10 years its been relatively easy money. True value shines during volatile times. For those saying just put it in S&P500, good luck with that. Age and personal risk tolerance plays a huge role. Many people truly don't understand and can't quantify the risks they are taking.

Yes, while returns are absolutely important. A miss calculation on the level of risk you unknowingly are taking can set you back very quickly much more than years of advisor fees.

Definitely check broker check on the advisor you plan to hire.

Sent from my SM-G935V using Tapatalk
Twitch-Twitch-Boom is offline   Reply With Quote Quick reply to this message
Old 03-22-2019, 06:26 AM   #25
98aggie77566
Stepped in what?
 
98aggie77566's Avatar
 
Join Date: Jul 06 2009
Age: 44
Posts: 9,233
Rep Power: 21487859
98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate
I fired my investor two months ago...moved everything to S&P index funds.

I was with Merrill Lynch for 3 years:
- on up years they did worse than the market
- on down years they did worse than the market
- and I was paying them 1.5% to guess with my money

Take a look at the article below....maybe I have become a bit jaded, but these traders/investment firms are not out for you...they are out for them. They make money whether you do or don’t...and ML nickel and dimed me to death.

I refuse to pay a bunch of people that think they are better at guessing than me...when they have zero risk on the table...and 9/10 times they can’t beat the market. The argument about volatility doesn’t hold water in most cases.

https://www.cnbc.com/2019/03/15/acti...-indexing.html

Granted...when I get closer to retirement...I will likely change investment strategies.

Sorry if I offend any investors in this thread...10 years of statistics are hard to argue against.

Last edited by 98aggie77566; 03-22-2019 at 06:34 AM.
98aggie77566 is offline   Reply With Quote Quick reply to this message
Old 03-22-2019, 04:39 PM   #26
older 37
Registered Users-pm+
 
older 37's Avatar
 
Join Date: Jun 17 2016
Location: Houston ( Spring Branch)
Age: 82
Posts: 3,949
Rep Power: 21480038
older 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirateolder 37 has been promoted to Pirate
Quote:
Originally Posted by 98aggie77566 View Post
I fired my investor two months ago...moved everything to S&P index funds.

I was with Merrill Lynch for 3 years:
- on up years they did worse than the market
- on down years they did worse than the market
- and I was paying them 1.5% to guess with my money

Take a look at the article below....maybe I have become a bit jaded, but these traders/investment firms are not out for you...they are out for them. They make money whether you do or don’t...and ML nickel and dimed me to death.

I refuse to pay a bunch of people that think they are better at guessing than me...when they have zero risk on the table...and 9/10 times they can’t beat the market. The argument about volatility doesn’t hold water in most cases.

https://www.cnbc.com/2019/03/15/acti...-indexing.html

Granted...when I get closer to retirement...I will likely change investment strategies.

Sorry if I offend any investors in this thread...10 years of statistics are hard to argue against.
I agree totally, I am 82, have mine in the Vanguard Wellington(65% Blue Chips,35% Short Term Treasuries) and this is the oldest fund in existence. Since 1929 averaging 8.29% annually and up about that YTD.
older 37 is offline   Reply With Quote Quick reply to this message
Old 03-23-2019, 06:35 AM   #27
98aggie77566
Stepped in what?
 
98aggie77566's Avatar
 
Join Date: Jul 06 2009
Age: 44
Posts: 9,233
Rep Power: 21487859
98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate98aggie77566 has been promoted to Pirate
That’s exactly what I plan to do 37.

Over time, as I age and near retirement...shift to funds that have less risk (like yours).

I’ll never pay that 1.5%+ again...waste of $ and nothing more than fancy suits and marketing. The proof is in the #s.

For me at this point in my career, I’m nearing the peak of my earnings...so dollar cost averaging helps out. If the market goes down, I am buying cheap...if it goes up I’m making $.

It’s all a gamble...I’d rather not pay someone else to gamble with my $$&.
98aggie77566 is offline   Reply With Quote Quick reply to this message
Old 04-24-2019, 03:25 PM   #28
Richard11111
Registered Users-pm+
 
Join Date: Jun 29 2016
Location: Corpus Christi
Age: 61
Posts: 13
Rep Power: 0
Richard11111 is a Landlubber (+10 to -10)
Financial advisor

While I was working burning the candle at both ends I use to have a financial advisor. I would always look at their benchmark target and noticed we only would get 66% of my market tolerance (based on age). After I quit working I then had time to look into investing the benchmark. I found out I could fire my financial advisor and be ahead 0.7% by getting rid of that overhead expense. I also sold the high expense ratio investments they had in my portfolio which made me that much more ahead also. I bought index mix of S&P,small cap and bonds and became better than their benchmark (by not getting foreign). I encourage my friends to do the same. The problem is guys can't buy and hold. Something about us guys is we always want to adjust when not needed. My significant other has done better than me since she had me buy her indexes and she never sells other than when I have told her that she was to far from balance.

Here is a link that may explain it


See picture attachment below that shows how one should adjust their mix of various investment over time. I took it from vanguard target date site.

Another site to visit is https://bogleheads.org/forum/index.php Read the personal investment forum questions to learn from others thru their questions

Hope above helps!
Attached Images
 
Richard11111 is offline   Reply With Quote Quick reply to this message
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the 2CoolFishing forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Joint vs. Separate checking accts. Fish&Chips Food For the Soul 0 01-31-2014 09:50 AM
Financial Advisors Deputy U.S. Marshal Investments and finance 17 05-04-2011 06:32 PM


All times are GMT -5. The time now is 11:10 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Resources saved on this page: MySQL 13.04%
vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Copyright 2019
© 2013 Noreast Media, LLC | Terms of Service | Contact Us | Advertise