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Posted on 9/30/22 at 7:11 am to el Gaucho
quote:
What do y’all financial planners plan to do when the us moves away from the ira funded retirement to the democrats new “mass grave” retirement plan?
Most people with substantial wealth have it outside of retirement/qualified accounts.
Additionally, we specialize in mass grave plans.
Posted on 9/30/22 at 7:38 am to slackster
quote:I guess what I meant was if the guy isn't even asking for permission to trade and recommending what to buy or sell, I would not consider them a financial advisor. Sure there are advisors without discretion, but they are still the ones asking the client for permission and making trading suggestions/recommendations.
I don’t believe discretion is the difference between being an advisor or not. I know plenty of fee based FAs that don’t use discretion.
Posted on 9/30/22 at 7:48 am to Hu_Flung_Pu
Bottom line you need to invest your money yourself. It isn't rocket science.
Posted on 9/30/22 at 8:38 am to TeaParty
quote:
I assume you mean you are have the account since 2019 and this year you are down 22%. YTD on the S&P 500 is 22.73%. Most Financial advisors will not out perform this on a year over year basis. As stated in another post most of the FA's are there to stop emotional trading. Doing something stupid.
Ever since I put my money into that account, I have lost a total of 22% since 2019. The managed account (Merrill) is down 22% that does not have S&P. My Roth (self managed) is separate and has strictly S&P.
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