• 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

Who manages your investments

#1
I have my investments with Edward Jones and have received poor results, I am looking for the best way to grow my investments.
  Reply
#2
An educated investor like yourself is the best way to grow your own investments. After a number of financial manager/advisors over a number of years, I turned DIYer. The results I got this month has been poor, but I didn't have to pay someone else to lose my money for a change  Big Grin
  Reply
#3
Yeah, me, myself, and I.  When I started many years ago with AGEdwards (merged into Merrill Lynch), my FA was the VP of a local office.  I thought I could trust him... he moved my $$ regularly in and out of load and high-fee (payback) mutual funds.
I figured that in 1 year I bought him a new cadillac.
 
Yeah, times have changed - but don't close your eyes on your money.
  Reply
#4
I believe that if you can spend a little bit of time learning from this forum’s participants, balancing that advice with your own financial strategy, then you can manage your investments yourself.
 
Good luck & great profits!
  Reply
#5
I vote DIY Fidelity. EVEN if you go all funds, you will be better off, IMHO.
 
I say multidimensional risk reduction and diversification are key. If you come to a point where/when you know you need to diversify in investment methodology, I say you are doing fine.
 
Have I made mistakes? Of course. But I have learned.
 
I will stop there, since no particulars are given.
  Reply
#6
I do.
And I have a fee for service CFP Advisor.
That is a contingency for the time that I can't or won't be able to manage them.
This way there is a cohesive plan that can be continued with a professional at a reasonable rate.
I'm not interested in turning over my account management to a firm that takes an ongoing fee.
You have pinpointed several issues that I address in my RCIP/CFP thread.
It took some time, effort and thought to resolve this.
My family is all on-board. Big Grin
  Reply
#7
The people on this forum generally manage their own investments and believe that they do better than someone who charges a fee for results that are not necessarily wonderful. However, I know plenty of people who just darn do not want to do the job themselves and they seem to like having someone else do it for them for a fee. Some of them seem less concerned about obtaining superior financial results and more concerned about having an advisor or financial manager who is on their wavelength about life and social issues. There is also the factor that some people do not want to be stressed out about investments and just feel better when a "professional" is just "taking care of everything." If you are a medical doctor, you don't necessarily provide the best or most advanced care, but you try to make sure you meet the current standard of care set out by your professional organization for the average doctor in your category, all so you can avoid being sued. My guess is that is what you get from a financial professional (even though I have heard about uneven performance or attentiveness by various professional financial managers).
  Reply
#8
Me. I have passed the Finra series 7 and series 66 exams. I know what I'm doing. I'm 27 and I'm gonna keep killing it the next 60 years with Visa and Mastercard stock (unless I die before then.) I will never pay some other person (who probably doesn't know jack diddly about finance/investing) to manage my investments for me. Their results would be worse, and on top of that, I'd have to fork over my hard earned wages that I could be investing myself.
  Reply
#9
(11-29-2018, 11:13 AM)Kwill Wrote: Me. I have passed the Finra series 7 and series 66 exams. I know what I'm doing. I'm 27 and I'm gonna keep killing it the next 60 years with Visa and Mastercard stock (unless I die before then.) I will never pay some other person (who probably doesn't know jack diddly about finance/investing) to manage my investments for me. Their results would be worse, and on top of that, I'd have to fork over my hard earned wages that I could be investing myself.

Nicely done.  Can one take the exams without being employed by a brokerage?  I like a challenge, and wouldn't mind some further self-education, structured at my own pace.
  Reply
#10
I have always managed my own investments and done OK. I have two friends who retired at the same time I did in 2004, and went with Edward Jones. Both quit them within a year once they understood the fees charged to their accounts. One of these guys was an experienced CFO; I found that interesting. He seemed to have done a great job as our CFO....Just an affirmation that I can do as well, or as bad, as someone else can do for me while charging fees.


The caveat is that one has to put in some time and effort to manage their investments, and if one doesn't care to do that, a managed account might be worthwhile - but I would only do that with a major player like Fidelity or Schwab. I have known of some very successful money managers, but most have been very picky about clients, requiring very large investments.

In my opinion, it is one or the other; I don't know of an 'auto-pilot' portfolio, aside from annuities or structured bonds, that I would find satisfactory, although some might be satisfied with that kind of 'guaranteed' return, however small. 
  Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)