7576||31428|||Bluedevil Says: posted January 17, 2003 11:59 AM
Based on my fairly limited experience with financial advisors, my impression is that many/most are not knowledgeable enough to provide enough help to someone like me such that the fees are justified.
---The problem with your post (IMO) is that you make a broad statement "many/most are not knowledgeable enough......" Yet, you start off your post with the statement "my fairly limited experience with financial advisors"
Why would you think you would not be called on such statements?
Bluedevil:I consider myself somebody who does a fair amount of research and understands a good bit about investing and financial matters.
---I am not saying you don't do a fair amont of research or that you can't understand a good bit about investing, but my point (and its an important point) is that someone(maybe not you) can spend all the time in the world doing research and still not understand or make use of that information.
A case in point is your statement about transacation costs. Based on YOUR comments, you believe these costs to be irrelevant and didn't seem to know what they are!
Bluedevil: jmarks' comments were pretty surprising to me. "There are always people that THINK that they can do it themselves. And those are the people that I do not want as clients." Sir, do you really think that a reasonably intelligent person who spends significant time researching things is incapable of laying out and executing a sound financial plan for his/her family? I hope your answer is 'no.'
--- the right answer is not NO! Its maybe. See my previous comments above on information vs knowledge. (two completely different things)
Bluedevils follow up post:
I just re-read my first post today from this thread. I tried hard not to offend the advisors here with my general comments. I failed in this effort and am sorry that some folks were offended. The only thing is, I don't think my comments were nearly as offensive as some of the extrapolations that followed!
--- This makes no sense to me. So, you are saying that because your comments weren't nearly as offensive (IYO) as mine or others that it makes you in the right?