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Who manages your investments

#11
We like Fidelity. Been with them since 1982. We have learned a lot with them. They have made suggestions, but never ever a demand. We ask for guidance and all Fidelity representatives locally and at corporate office have provided clear answers every time. I may have had to ask for more explanation, but they always have had time to go over something a second and a third time to help us.
At times we may deviate from their suggestions, but there has never been any harsh words, nor have we had any feelings of regret.
So, I would say we, wife and I, do our investing - placing buys/sells and doing research decisions to trade mutual funds, bonds and stock generally online.
Things that really helped were which `types` of funds to keep in an IRA, like high dividend/capital gain funds or consider ladders CDs or mini bonds for income. Never has Fidelity said to buy or sell a specific fund or stock by name - we like that.
We thank and appreciate Fidelity`s staff for helping us.
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#12
Since you have indicated that you have received poor investment results, then leave that adviser and manage investment yourself. Mange your investments with low cost index funds with proper asset allocations based on your risk level. I found that this approach will yield  equal, if not better results than investment managed by a financial adviser.  In the past, I have utilized investment manager but overall results are better as if I manage myself with low cost index funds!
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#13
(12-21-2018, 08:47 PM)FireHiker Wrote: Since you have indicated that you have received poor investment results, then leave that adviser and manage investment yourself. Mange your investments with low cost index funds with proper asset allocations based on your risk level. I found that this approach will yield  equal, if not better results than investment managed by a financial adviser.  In the past, I have utilized investment manager but overall results are better as if I manage myself with low cost index funds!

Years ago, I bought lifetime subscription us both to Louis Naavallier Platinum and Street Authority.   I have largely followed all of LN’s  recommendations for buys and sells, and read many of Street Authority‘s newsletters,occasionally making the purchases they recommend. I actively manage my portfolio, and don’t blindly follow their advice and have done remarkably well with the fairly (many would say too) aggressive portfolio I have.
 
Having just retired, I am gradually moving to safer holdings but have beaten most indices the past five years.
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#14
If a financial advisor actually had some valuable insight in the market why would they not borrow all the money they could and manage their own portfolio.    Instead of taking small percentage from ordinary folks.   Myself I hate the idea that FA's get their money off the top.   Especially bad if they are 'managing' someone's portfolio of mutual funds which ALREADY have paid managers.   So before you make money you have to clear like 1.5 to 1.75%   This may be no big deal in a big up market but in one sideways or down it is a lot.    Plus in an up market why not have index fund or ETF with little to no expense; skip the 'manager'. Or just picking a target date fund and forgot about it all together.
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#15
I do think there are people who should use a finical adviser. My wife and I both have degrees in chemistry with minors in math. The only difference between us is she got A's in math and I got C's. Neither of us are "gifted" academically but we do have some ability. I also have a business degree (MBA). To me business math is fancy arithmetic. The wife doesn't get business math because it's not exact. Calculus has only one answer, business math is usually somewhere between this formula and that formula. I think an adviser could sweet talk her into any type of an investment. My advice to her is if something happens to me let one of our daughters handle investment decisions. Neither have a big background in investing but both are good at researching a topic and learning the basics.
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#16
Mostly I manage my own investments but I have used Fidelity Manged Services for part of my investments for about 2 years. I recently moved that portion of my investments back to my control. Not because I was unhappy with the service but because I wanted to be in a much larger cash position through the upcoming elections and knew that manged services was not going to manage the accounts in that way. Ergo ... I liquidated and moved to cash.

I have visited with Edward Jones in the past because a couple of young people (beginning savers / investors) asked for my advice and after steering them toward Fidelity and or Vanguard they decided (for God knows what reason) to use Edward Jones. This is a company that I would never invest my money with because of the fees, loads, expenses, and what ever other terms they like to use are simply absurd. Remember that this is a company that stopped selling some investments because the laws changed and they were unable to continue to gouge their clients with fees.

I was able to recoup some of the crazy expenses for one of these young people and move them to Fidelity (who also reimbursed some of E.J. fees) but the other one remains at Edward Jones paying high fees and expenses. I suspect they have some relative who works for E.J. that has sold them a line of bull. SAD. Some people simply can't be helped.
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