facebookDo you think it is wise for me to “FIRE” my current financial advisor NOW and invest on my own? - Seedly

Advertisement

Anonymous

18 Apr 2019

General Investing

Do you think it is wise for me to “FIRE” my current financial advisor NOW and invest on my own?

Been investing with a financial advisor over the past 3 years. Small amounts of yearly dividends were reinvested into the funds. Till date, I have not gotten any monetary returns. And current valuation of my funds is ard 3% lesser than what I have invested. Do you think it is wise for me to end the relationship with my current advisor NOW and invest on my own?

Reason being (1) my rs with the FA hasn’t been the warmest. (2) I want to start taking more ownership on my money

Discussion (4)

What are your thoughts?

Learn how to style your text

Ivan Guan

17 Jan 2019

Founder at SGMoneyMatters.com

It is hard to judget if an investment adviser is good or bad by simply saying your funds lost 3%. There could be many reasons.

if you want to start investing by yourself, you should open a separate account first. Making your own decisions, make yourself accountable and comparing your own performance and the portfolio managed by the adviser. Then you can see if your adviser is doing any good job for you.

Have someone knowledgeable about funds to take a look at your funds portfolio and give some suggestions. Switching funds may yield better returns. If you think that your current advisor is not putting your interest first, ask the insurer to suggest another one who is more competent on funds management and advisory. It's your money, your choice on how you wish to put it to work for you. I'll suggest dropping the advisor or platform altogether if you can achieve better returns elsewhere and on your own.

Past 3 yrs bull mkt and your agent still have not make money for u but getting fat commissions all t...

Write your thoughts

Advertisement