Quote:
Originally Posted by Slava
Obviously you've just heard the bad, or dealt with bad advisors. The reality is that almost every mutual fund pays the exact same for me, so there is no incentive for me to push people to one fund over another . Most advisors operate in that manner.
As far as the life insurance comment, this is just plain wrong if you get a good advisor to begin with. I almost always sell people the cheapest insurance policies because its the right thing to do, not because of the amount of commission I make. My entire goal is to do whats best for peoples financial goals...so that is a moot point.
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I imagine that anyone who wants any longevity in the business, would have to always do the right thing. Those sales type FAs probably just started within a year and leave very soon afterward.
My personal opinion on FA's is that they provide people with a valuable service. Even Finance professionals need one eventually because there's not enough hours in a day/days in a week to manage a complicated person's financial assets optimally when they have 60-70 hours/week worth of work to do on top of family commitments.
Now to corporate bonds: Unless you have enough scratch to manage a diversified bond portfolio, buy a Bond fund. Corporates are good buys right now because there's still 'fear money' in treasuries and away from corporates keeping spreads historically high.