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re: Do I have a bad financial advisor?
Posted on 1/26/24 at 5:54 am to Saint5446
Posted on 1/26/24 at 5:54 am to Saint5446
My advisor is chill. If I call him and say sell all my stocks and send a check, he won't ask any questions. He believes its my money and I can do what I want with it. He gives great advice and helps with investments, but he is not my father.
On the other hand I had another advisor that was dumped on me by family. She was like a mother. She was upset that I had another advisor and would lecture me at every meeting. I told her I have known him since college and he came into the picture as an advisor long before I met you. Every meeting she was bringing him up and that I needed to have one advisor. I told her successful people have money in all sorts of places using various people to build wealth. They don't keep all their money in one institution.
The nail in the coffin was when I told her that I decided to start a SEP with my original advisor. We did not talk for over a year. Then I get a phone call from another woman saying my file was transferred to her office. Our first meeting I laid down the fact that I will be using multiple investment firms. No issues. She is very cool and smart.
A good advisor does not sell you stuff. They do what is best for your situation and what is best for you.
On the other hand I had another advisor that was dumped on me by family. She was like a mother. She was upset that I had another advisor and would lecture me at every meeting. I told her I have known him since college and he came into the picture as an advisor long before I met you. Every meeting she was bringing him up and that I needed to have one advisor. I told her successful people have money in all sorts of places using various people to build wealth. They don't keep all their money in one institution.
The nail in the coffin was when I told her that I decided to start a SEP with my original advisor. We did not talk for over a year. Then I get a phone call from another woman saying my file was transferred to her office. Our first meeting I laid down the fact that I will be using multiple investment firms. No issues. She is very cool and smart.
A good advisor does not sell you stuff. They do what is best for your situation and what is best for you.
This post was edited on 1/26/24 at 5:56 am
Posted on 1/26/24 at 10:55 am to Mariner
quote:
A good advisor does not sell you stuff. They do what is best for your situation and what is best for you.
This^
For the most part using Edward Jones is like going to the mall to do your taxes. I am sure there are some good/competent FAs that work for EJ...but I have never met one.
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