FYI: One of the problems with the typical “trust me, we got this” attitude that you often see with financial professionals is the fact that most of the time their unwitting clients don’t really even understand what’s going on in their own portfolios. There are really no independent parties overseeing the overseers so a lot of the time it’s the clients who are left to judge the fund managers, advisors and consultants who are managing their money. Most investors aren’t qualified to be able to judge the performance of those investing or making decisions on their behalf, so it’s basically a whatever-they-say goes arrangement. It’s hard for many clients to even know that they have subpar results because the “experts” they’re listening to set the expectations and benchmarks.
Regards,
Ted
http://awealthofcommonsense.com/2016/05/how-the-finance-industry-tricks-you/
Comments
Can your advisor or ? provide real evidence of their past recommendations and the resulting performance?
Have these folks (advisors) do a simple total return print out of VWINX over its life and provide their (advisors) return performance match.
Ya, good luck with this!