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What You NEED To Know About Financial Advisors financial advisor



Should you hire a financial advisor? AK will explain the good, bad, and ugly about hiring financial advisors and what you need to know before you hire a financial advisor
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Should You Hire A Financial Advisor
0:10 – The pitch financial advisors make
0:30 – I hate financial advisors
1:05 – The downside of having a financial advisor
1:30 – Financial advisors put you in a place that give them a big bonus
2:02 – How much money 401(k) money managers make
2:59 – What does a good financial advisor do
3:46 – A good financial advisor is a quarter back for your finances
4:34 – Should you get a financial advisor or invest yourself
5:20 – How to use a financial advisor

See also  financial tip | 50 30 20 rule | business mindset | how to make money double | #shorts a financial bg671

What Is The Minority Mindset?
The Minority Mindset has nothing to do with the way you look or what kind of family you’re from. It’s a mindset.

See also  Powerful Prayer For Immediate Financial Blessing financial blessing prayer

Give the majority $200 and they will come back with a pair of shoes. Give the minority $200 they will come back with $2,000.

Think from the mindset of a consumer and be the provider, that’s the Minority Mindset. Don’t be the majority. #MIH #ThinkMinority #StockMarketInvesting

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What You NEED To Know About Financial Advisors

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What You NEED To Know About Financial Advisors
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36 thoughts on “What You NEED To Know About Financial Advisors financial advisor”

  1. Finding a good financial advisor is crucial to one’s finance. I challenged myself to put away 50% of my monthly income into dividend stocks which is quite easy since I live frugal without debt. I work as an account executive, and make over $20000. $10000 goes into dividends, and the other $10000 covers my my food plus living expenses monthly. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed fund manager who allocates funds to a plethora of assets. I have to stay disciplined, and remember that I’m in it for the long term. Good luck to everyone and thanks for the great video.

  2. As a Financial adviser based in UK. Post RDR (Retail Distribution Review) 2012 all costs and charges were made transparent. Financial education is part of the job yes, but so is doing the right thing at the right time, and doing nothing at the right time.

  3. I talked to a financial adviser the other day. However she was only an investment adviser and not a tax adviser. Either way she really helped educate me. For me I would be willing to pay someone to form a relationship with me, look over my portfolio and tell me how I'm doing and give me advice on what i can be doing. But I'd still rather control it myself.

  4. I agree that most financial advisors are just salesman pushing mutual funds. I used to have one job where I would get statements for my 401k that said my outlook for retirement was "sunny" because I was on track to make 30k a year when I retire. Most people probably have no idea what they are even invested in and are getting charged fees regularly. Those crooks are making huge amounts of money off of 401k and pension funds. Most people won't even get a pension nowadays. I have since left that job and went back to school. My income will be 2-4 times what it used to be. Then I plan to invest in commercial and residential real estate, buy stocks, and maybe even buy a business or start a business. I want to retire making at least a 100k a year of cashflow without dipping into my principle. A financial advisor won't help you do any of that. They can't teach you how to be an entrepreneur. I'd rather have a millionaire mentor or business partner than a financial advisor.

  5. THEY'RE CROOKS….NARCISSISTS AND PSYCHOPATHS UNFORTUNATELY INFEST THIS SECTOR AND WHAT'S WORSE IS THE CREDENTIALS REQUIRED FOR SUCH A CRITICAL ROLE OF MANAGING PEOPLE'S MONEY ARE VERY FEW. IT TAKES VERY LITTLE TO GET LICENSED TO BE AN "ADVISOR" -ANYONE CAN DO IT AND TO ADD INSULT TO INJURY, MOST OF THEM SEEM TO BE HIRED THRU CERTAIN SOCIAL NETWORKS SO THEY GET JOBS HANDED OFF TO THEM BY ASSOCIATE'S AND IT THEN BECOMES A "TEAM INITATIVE' AS FOR HOW THEY WILL BEST PROFIT FROM YOUR MONEY AS THEY GET KICKBACKS FROM PUTTING YOU IN CERTAIN INVESTMENTS, MUCH LESS BAD ILLIQUID INVESTMENTS PAY THEM HIGHER COMMISSIONS. IT'S A SCAM. I'VE HAD THE MISFORTUNE OF HAVING TO DEAL WITH A COUPLE OF THEM WHO EACH HAD THEIR OWN BAG OF UNETHICAL BS I HAD TO OVERCOME. IF IT'S NOT INDEPENDENT STOCKS – THEY TRY AND STUFF YOU IN THEIR OWN PACKAGES WITH THE HOPE THAT YOU AREN'T ASTUTE ENOUGH TO FIGURE OUT THAT THESE OPTIONS ULTIMATELY COST YOU MORE MONEY IN THE LONG RUN…USUALLY WHEN YOU'RE SEEKING INCOME FROM SUCH INVESTMENTS. THEY WILL PROMISE YOU A 6 PERCENT INCOME AND PUT IN FINE PRINT THAT THEY THEN WILL DEDUCT FEES FOR THIS FROM THE PRINCIPLE SO EVENTUALLY YOUR PRINCIPLE GOES BACKWARDS SO YOUR INCOME RUNS DRY. NEVER TRUST THESE PEOPLE. YOU DON'T HAVE TO BE FINANCIALLY ASTUTE TO FIGURE OUT HOW TO INVEST YOUR MONEY IN FAANGS AND SAFE STOCK OPTIONS ON YOUR OWN. NOW, THEY MAKE IT EASY SINCE BONDS AND CD'S PAY NOTHING….MOST PEOPLE KNOW THE BIG COMPANIES TO INVEST IN AND YOU THEN PAY NO FINANCIAL MISADVISEMENT FEES SO YOU END UP IN THE GREEN ALL AROUND. THEY ARE PREDATORS AND THE ONLY THING THEY ARE FIXATED ON IS THEIR BOTTOM LINE. AT YOUR EXPENSE WITH NO ETHICS, MORALITY OR CARE IN THE WORLD ABOUT THE MOST IMPORTANT THING IN YOUR LIFE. MOREOVER, I ALWAYS SAY "WHAT TYPE OF PERSON WOULD REALLY WANT THE RESPONSIBILITY OF MANAGING SOMEONE ELSE'S MONEY/RETIREMENT?' IT'S A VERY IMPORTANT JOB AND NO ONE IS AS VESTED IN THEIR OWN MONEY AS THEMSELVES.

  6. As with any profession.. Do your homework and hire someone you trust. Make sure your adviser is a fiduciary. That means they legally have to do whats in the best interest for their clients and not themselves.

  7. Thanks for your perspective! I have a financial advisor, however, I do not allow him to tell me what to do. I let him know what I want to do and I ask if I'm on the right track. He appreciates that I'm involved and extremely detailed with my plans. He always tells me that he wishes his customers were more like me. Right now I'm on target to retire at 55, so I am going to try to shoot for earlier. Im looking into real estate investing.

  8. Man you look strange without your turban and beard….and not to mention the funny voice…But great video …still, get well soon.

  9. The term financial advisor is so abused. If the financial advisor is a financial advisor representative tied to the FINRA series 65 program he should do well for you. Otherwise, they are just salesmen.

  10. Hey man, I really appreciate this new series. I know that it doesn’t get a lot of views but I really appreciate what you are doing here! Keep up the good work!!

  11. Love this video. Not sure how it works in the U.S., but in Canada there's a website run by the Canadian Securities Administrators where you can see if an advisor has a fiduciary duty to you as a client or if they are simply a salesperson. Basically you can search a name and see their registration status: a "dealing representative" is a sales person whereas an "advising representative" has a fiduciary duty to the client (basically a legal obligation). Just because someone is a dealing representative doesn't mean they will give you bad advice, but it usually means there's a commission involved so it's worth being aware of!

  12. I moved to a country where I was not fully aware of the best ways to build wealth and the tax system. To keep it simple I spoke to my friend who has done well through an advisor and met with the person they use. For me, I play it safe and trust the advisor and so far it has worked.

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