If you watch the financial news (which I don’t advise), you know much of it is filled with “analysts”, “technicians”, fund managers, and other self-appointed “gurus” who explain to the rest of us why we should buy a particular stock.
What Dan Writes
On July 18, 2013, I wrote a blog for U.S. News. I discussed the sorry state of pension plan management. Most plans pay hefty fees to “consultants” who advise them which actively managed funds to buy and sell. These consultants usually ignore the data demonstrating most of these funds will underperform a comparable index fund over almost all time periods measured.
To succeed as an advisor (and improve your personal relationships), focus on your empathetic skills.
If you need the services of an advisor, limit your search to registered investment advisors (RIAs).
In order to intelligently buy a car or invest your money, it’s critical to understand the difference between your goals and the interests of your car salesman and stockbroker.
I thought a comprehensive understanding of investing would be enough to grow my advisory practice.