Financial Advisor

[raskolnikov]

Anyone had experiences in using a financial advisor? My financial skills are terrible and I am thinking about using one if they would be worth it.

 

[rick James]

I deal with them a bit, a lot actually. You need to find one who knows what he's doing, and works within a Master Trust that offers alot of investment options, preferably shares as well, plain and simple. My best advice is to go and meet a number of different advisers throughout different Funds.Dealer groups and decide which one is the best for you. They can be pretty slick though, so be careful.

Take into account what fees they recieve, not just from your accampaigner, but commission wise from the fund managers themselves. Best bet is to look for a more boutique financial palnner without any ties to particular funds, who has your best interests ahead of their wallets. Could be hard though!

 

[morgoth]

Do you want to trade shares or buy funds? If you want shares go to a broker, if you want funds a financial planner. Planners can deal in shares but they deal through an intermediary (broker) so cut out the middle man and save yourself some money.

 

[raskolnikov]

Thanks for the replies.

Morgoth - I don't even know that. I'm at the initial stage where I don't even know what to do with my money.

 

[morgoth]

go to www.asx.com.au, they run free seminars on investing and provide a fair bit of literature, good place to start.

 

[Tha Boss]

I am my own financial advisor. Much easier that way.

 

[daddy_4_eyes]

I am my own financial advisor. Much easier that way.

Particularly if you know ******** all about managing your finances, right?

 

[Tha Boss]

Particularly if you know ******** all about managing your finances, right?

Learn how, it is not hard.

 

[daddy_4_eyes]

Learn how, it is not hard.

Actually, I'm about to enter my final semester at Uni studying Financial Planning. So I know how absurd you sound.

Sorry

 

[Tha Boss]

Actually, I'm about to enter my final semester at Uni studying Financial Planning. So I know how absurd you sound.

Sorry

Oh, I didn't realise I was talking to an 'expert'

My finances are fine, but thanks for your concern.

 

[daddy_4_eyes]

Oh, I didn't realise I was talking to an 'expert'

My finances are fine, but thanks for your concern.

Never said I was.
But I sure as hell know its not an easy field to get to grips with. But keep big talking yourself, we're all impressed at your great financial management skills.

 

[Former]

Actually, I'm about to enter my final semester at Uni studying Financial Planning. So I know how absurd you sound.

I would be pretty careful making judgements on other people's skills if an incomplete Uni degree is the basis for that judgement. It's a bit impertinent.

As with anything, you go to Uni to learn the basics then you crawl blindly into the work force and earn the skills and respect.

 

[daddy_4_eyes]

I would be pretty careful making judgements on other people's skills if an incomplete Uni degree is the basis for that judgement. It's a bit impertinent.

As with anything, you go to Uni to learn the basics then you crawl blindly into the work force and earn the skills and respect.

I was merely stating that having studied in the field, I can attest to the fact that its not an easy area to understand. I was not in any way judging his skill.

Personally I thought that was pretty obvious, apparently not.

 

[rick James]

I would be pretty careful making judgements on other people's skills if an incomplete Uni degree is the basis for that judgement. It's a bit impertinent.

As with anything, you go to Uni to learn the basics then you crawl blindly into the work force and earn the skills and respect.

Actually I started off working in the area, then realised legally I needed the qualification so my employer now has to pay for it. I do everything backwards.... but it's cheaper.

 

[morgoth]

Unless you are into deriviatives, street smarts and contacts are what you need in the finance game. The only rocket scientists in the securities biz are the quant and deriviative guys. Yes you need a degree (most of the time now days) to get a foot in the door but it won't give you success.

 

[rick James]

Unless you are into deriviatives, street smarts and contacts are what you need in the finance game. The only rocket scientists in the securities biz are the quant and deriviative guys. Yes you need a degree (most of the time now days) to get a foot in the door but it won't give you success.

From my experieince a healthy ego and good communication skills are hte key.

The actual knowledge side of it is so regulated most companies only tinker with the edges.