Why You Don't NEED a Financial Advisor | Phil Town

One of the most commonly held misconceptions in investing is the idea that you must work with a financial advisor in order to be successful.

However, the reality is that investors who manage their own money are often able to perform just as well or better than those who work with a financial advisor and without any high fees eating into their returns.

If you’re still on the fence about whether or not you actually need a financial advisor to be a successful investor, then this video is for you.

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  1. Where would you park your money an order to wait to buy stocks at discount prices also would you wait to buy the S&P 500 when they drop a little instead of buying it when they High

  2. The only financial advisor that I ever really valued was one who told me plainly after a one hour consultation: "You're not really wealthy enough to benefit from my services and fees (1% AUM), but you're not broke enough or uneducated enough to use the high street commissioned sales guys. Clearly you can do this yourself for the most part. Come back and see me when you're worth several million and don't feel like managing it any more."

    Yeah, I'm still working on that.

  3. I have 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.

  4. Very early in my life I had a roommate that was a financial advisor. He explained how his job worked. Pure sales commissions and account churning for fees. He always got his money. The client…not so much.

  5. where do you learn on how to do it yourself? i'm expecting to get a big check within the next couple of months (6 figures) and don't even know how that money in hand get's to a market. do you put it in your bank account and link it to some software or something? if there's a video explaining from the very basic and beginning can someone point me in that direction, please.

  6. Financial advisors been through 6 in 40 years. Stupid me! They made a good living off me. Advisors only sell you mutual funds and I'm sure they're was an added benefit to them not me,with the ones they chose. Why was it whenever I got a new advisor ,they always said no you should be in these funds not those the previous salesman had put me in.

  7. Just give me some good research, so if I want to buy individual stocks, I can make an educated decision. Same goes for looking for index funds, ETF'S, etc. Consider using cash secured put as a limit order you get paid for when buying stocks you like.

  8. I saved all my life. Sometimes I used “free” financial advisors; sometimes I did not. Regardless I did OK and amassed a comfortable nestegg. Later as I approach retirement, I figured it was time to get pro help. I went to an advisor who was a “friend.” She wanted 1% of MY money annually. She wanted 1% of my total portfolio that I spent twenty plus years amassing with no help from her. She wanted 1% regardless of her performance and with no guarantee and no fee reduction should her decisions do worse than the market. Where do I sign?!?! Long story short, I did not sign. I thanked her for her time and walked away. That was several years ago and I’m still doing just fine on my own.

  9. Wish I had seen this 2 years ago. My financial advisor took me to the bank, just as you said. My initial 500K portfolio is worth not much more than when I started with them 7 years ago. Had I left that money in the original index funds, I'd have 1.2M. I'm sick.

  10. I always found it to be idiotic to PAY a fee to someone to handle my own assets. It’s not complicated, but all you need to do is research most mutual funds and ETF underlying holdings. Now pick the most stable blue chip winners going in the right direction for years. It’s not HARD as they make it out to be.

  11. Here's the thing I don't understand, and maybe someone can help me. I have a significant amount of money in mutual fund RRSP's with a financial advisor. If I want to get rid of the advisor, how do I take control of the mutual funds?

  12. I am a struggling single mother working a low paying job, I work hard and make sacrifices for my family but it would take me an exaggerated 600yrs to be able to retire at this rate and want to start investing in something small that may blow up but I have never got into stocks and don't want to throw my money on something just because its cheap stocks atm. Any advice?

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