Is your financial advisor an asset or liability ?

Previously, we were discussing about is insurances an asset or liability and that leads us to today's topic of "Is your financial advisor an asset or liability?"

Warrent Buffet has this to say about financial advice from Wall Street.

"Wall street is the only place that people ride in a Rolls-Royce to get advice from those that take the subway"

Don't get me wrong, there are many dedicated agents out there who is sincere in making your financial future secure and i believe i'm part of it.

But in these past years, financial planning industry have been a growing trend in our country, maybe due to the fact that the aging populations group wanting to do something about their retirements.

To be qualified to advise on other people financial futures, all you need is 3 papers within a month, and i cleared them on my first attempts and thus that shows that i'm passionate about financial planning industry.

ok, cut the long story short, it takes you a longer time to become a qualified roti prata man making good tasting prata than it is to become a financial advisor and start giving advise on people's financial futures.

An advisor who is able to help you makes the right financial decision in life is an asset.
An advisor who is able to help you makes money is an asset.
An advisor who is working towards helping you and making sure you have enough for retirement is an asset.

Pay your advisors well, and they will give you good advice.
Try to be cheap with them and you get the worst advice, and you deserve it.

The worst financial advice are FREE advice.
Just like no good things in life come to you for free.

A few questions to note that if your financial advisor is doing a good job for you is,
given the same set of circumstances, will your advisors do the same thing which he/she adviced you to do?
When asking you to invest into their funds, will he or she buys the same funds at the same time as you do?
And for your investment banker, how much of his/her income comes from investment portfolio?
or does his/her income comes mainly from selling financial products(vehicles) to you?
"earned income"

Our financial institute recognized producers.
Once every year, if you read your papers, they will have pictures of their top advisors on the front page according to their contributions to the company.

What is the paper saying?

BEST SALES PERSON.

keyword here is SALES.

The title didn't says like "Most dedicated agent" or "Most Caring agent"
or "Best advising agent".

There is a co-relation between Sales and being dedicated and caring and giving good advise.

But that does not means that all the top agents are dedicated or caring and is giving good advise.

In the world of sales and financial planning, you might be amazed at what some people are doing to be at the top. It's just like beautiful football does not always win the competitions, but i'm glad spain won.

I'll paused for you to digest.

Be back soon.