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Anyone have any experience with FINANCIAL ADVISORS during the last crash?
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Date: September 23rd, 2019 1:40 PM Author: underhanded patrolman site did they know how to weather the storm, or do they get caught with their pants down like everyone else? (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873504) |
Date: September 23rd, 2019 1:41 PM Author: Pungent sapphire den love of her life Lmao at "financial advisors" (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873507) |
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Date: September 23rd, 2019 1:41 PM Author: Red tanning salon kitty cat What do you think (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873508) |
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Date: September 23rd, 2019 1:41 PM Author: obsidian diverse church building most dont know anything more than anyone else
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Date: September 23rd, 2019 1:41 PM Author: Vermilion Medicated University most financial advisors are morons
of course they got caught w their pants down |
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Date: September 23rd, 2019 1:42 PM Author: pale histrionic home (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873515) |
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Date: September 23rd, 2019 1:42 PM Author: Irate trump supporter area Lmao (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873516) |
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Date: September 23rd, 2019 1:54 PM Author: vigorous aquamarine school (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873553) |
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Date: September 23rd, 2019 1:43 PM Author: Red tanning salon kitty cat (Boomer) (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873518) |
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Date: September 23rd, 2019 1:49 PM Author: Bateful slate rehab fortuitous meteor Listen, you get what you pay for in mutual fund expenses. That front end loads drops to 3-4% max in the long-term and you get custom financial solutions for YOUR needs. (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873537) |
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Date: September 23rd, 2019 1:47 PM Author: Purple Jewess just average down (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873531) |
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Date: September 23rd, 2019 1:57 PM Author: mewling box office milk (financial advisor) (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873568) |
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Date: September 23rd, 2019 1:58 PM Author: underhanded patrolman site everyone itt that's saying they're idiots, did you actually have money with an advisor during the last recession? (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873571) |
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Date: September 23rd, 2019 2:02 PM Author: Vermilion Medicated University im a financial advisor and i've interacted w hundreds of them as well as people who've used them.
99% of advisors are morons, including many who run $1bn+ firms |
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Date: September 23rd, 2019 2:06 PM Author: underhanded patrolman site where would you park your money during the next recession, if there is one.
what's a good crypto long play right now? i have no money in crypto |
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Date: September 23rd, 2019 2:17 PM Author: Vermilion Medicated University if there's a recession, it depends on the type.
if it's deflationary, you want to own long term treasuries
if it's inflationary, you want to own cash and maybe gold
in terms of crypto, just buy a tiny bit of btc/eth/xtz (maybe 50-25-25) and forget about it. if you try to move in and out of the market, you will probably fuck yourself. |
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Date: September 23rd, 2019 2:30 PM Author: Salmon Community Account Prole What? Why would you hold cash as it gets less and less valuable? (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873770) |
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Date: September 23rd, 2019 2:50 PM Author: Vermilion Medicated University cash has historically retained its purchasing power in inflationary environments b/c the fed raises short-term rates to compensate.
also, pretty much every other asset gets gaped (stocks, bonds). |
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Date: September 23rd, 2019 2:07 PM Author: Chocolate Electric Furnace You don't call yourself a wealth strategist or consultant or something like that instead? (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873612) |
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Date: September 23rd, 2019 2:15 PM Author: Vermilion Medicated University i don't really call myself anything as i do no advertising (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873654) |
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Date: September 23rd, 2019 2:08 PM Author: Carnelian Toaster Dingle Berry I didn't see a witch-doctor for financial advice either, yet I can guess with high certainty that they were caught with their pants down when the recession hit. (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873615) |
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Date: September 23rd, 2019 2:04 PM Author: Chocolate Electric Furnace They just you put you in S&P 500 and charge a fee. Sometimes they get you a better share class of a decent fund (backwards looking at least), that's about it. (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873597) |
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Date: September 23rd, 2019 2:20 PM Author: Vermilion Medicated University most financial advisors don't put you in only an s&p 500 fund. they try to make it fancier by adding small-cap, value, international, energy/mlp stocks, reits, etc.
of course, hilariously enough, all those tilts have massively underperformed plain vanilla s&p 500 exposure over the past 10 years.
a good advisor will assess your psychological makeup, assets, liabilities, and construct a portfolio around them, in addition to helping you with tax, estate, etc. planning. |
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Date: September 23rd, 2019 2:29 PM Author: Aphrodisiac Drunken Nibblets I was forced to talk to one when I moved over some accounts to qualify for discounts on my mortgage and he told me I should open 529 accounts over UTMA. I have both and I said I have UTMA so I can gift appreciated stock and sell it to use for child’s expenses and only pay the lower kiddie tax instead of my LTCG rate. Guy had no idea what I was talking about. They’re worthless. (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873767) |
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Date: September 23rd, 2019 2:36 PM Author: Purple Jewess unlike investment team members at your company who never beat the index (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873802) |
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Date: September 23rd, 2019 2:38 PM Author: Aphrodisiac Drunken Nibblets Why do you think I only invest in index funds?
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Date: September 23rd, 2019 2:39 PM Author: Purple Jewess low T (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873821) |
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Date: September 23rd, 2019 2:38 PM Author: Chocolate Electric Furnace I don't disagree. Most of the guys on my team aren't any better or smarter than people on this board, they just have various licenses.
The only thing is life/disability insurance companies outsourced their sales, so you have to buy it from an agent and can't get a better deal by going direct to the company, so that's really the value there. |
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Date: September 23rd, 2019 2:22 PM Author: Fiercely-loyal spot some of the dumbest but most smooth talking kids from my high school (jock types, etc.) all became financial advisers (http://www.autoadmit.com/thread.php?thread_id=4349199&forum_id=2#38873707) |
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Date: September 23rd, 2019 2:27 PM Author: hairless primrose potus locus Financial Advisors ("FA's") are salespeople. At most they have some fraud credential like a CFP (LOL @ Julia striving for that). Literally all they do is a risk profile for their clients and then place them in a predefined portfolio that was created to align with that profile.
That's it, they have no market knowledge or savvy beyond the average idiot on the street. It's 100% a relationship job that boils down to telling people not to try to time the market and stick in it for the long term. |