I have always advised against the use of expensive advisers who take 1 1/2% or more of your assets each year. That can represent as much as 20% and up of your annual investment earnings.
Look at a compound interest table and see what a chunk of your wealth this adds up to after just a few years.
I also advise against taking investment advice from salesmen and sales ads. You get only one story they want you to hear. It’s the other that would probably be the correct one for you.
And be wary of stock brokers who have to sell you to make a living or who simply do not have the time or expertise to be of real help. Their training is mostly brokerage back-office and to conform to extremely broad “suitability” standards.
More on this in my future blogs.
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