Investment Adviser

[Slava]

If you are going to trade on your own, and are in the US I would check out www.robinhood.com and consider that.

My personal (perhaps biased) opinion is that having a professional is a better idea for most people, but if you want to do it on your own, you can't beat free!

[puckedoff]

Index everything, build a bond ladder and rebalance semi-annually to fit your fancy. If you do the math on what the advisor takes, and the cost of that money not compounding over a long time horizon you will be sick.

[Phanuthier]

Originally Posted by Phanuthier

www.wealthfront.com

Look at who invests with them..... and you'll see a very familiar name on the management team.

PS : If you want to thank me, list me as a referrer.

A bump for these guys

I know WF services Google employee's, now they also service a NFL team too!

https://blog.wealthfront.com/welcomi...ampaign=buffer

[HockeyIlliterate]

Originally Posted by Fobulous

I live in the US so I am not sure Slava will be able to help me out unfortunately.

Post your question on the Bogleheads forum here: http://www.bogleheads.org/forum/index.php

They'll teach you how to manage your money yourself and save a ton of money in the process.

[DuffMan]

Originally Posted by HockeyIlliterate

Post your question on the Bogleheads forum here: http://www.bogleheads.org/forum/index.php

They'll teach you how to manage your money yourself and save a ton of money in the process.

Is that a US based site or does it even matter.

[Ozy_Flame]

Give me your money or I'll pound your withered old face in.

[HockeyIlliterate]

Originally Posted by DuffMan

Is that a US based site or does it even matter.

It is a US-based one, but the basic principles discussed on the site are not constrained by borders.

Their "sister" website, which is Canadian-based, is the (newly renamed, I believe) Financial Wisdom forum

Edited to add: The Bogleheads website has many posters and gets a lot of traffic. The Canadian counterpart only seems to have 20 or so regulars and doesn't seem to be particularly busy. Still, the advice given at either site is sound.

[Enoch Root]

Originally Posted by HockeyIlliterate

Post your question on the Bogleheads forum here: http://www.bogleheads.org/forum/index.php

They'll teach you how to manage your money yourself and save a ton of money in the process.

This is a double-edged sword and IMO, dangerous advice.

First of all, there is no question that fees are one of the larger headwinds that your portfolio faces, and you should always be aware of them and try to minimize them. However, to dismiss all advice is foolish.

There are good advisors that are well worth the fess they charge. And there is nothing more dangerous than a little bit of information.

It isn't difficult to acquire a level of knowledge that will get you most of the way (i.e. diversification, asset allocation decisions, etc). However, it is the mistakes along the way that will really hurt you. One bad decision, one mistake with respect to tax planning, etc, will likely cost you far more than any amount of fees you saved along the way.

We provide a lot of services and value for our clients, but at the end of the day, I think our most important and valuable service is helping our clients avoid the mistakes and the emotional decisions that can derail years of hard work.

[Dion]

RBC Dominion Securities

http://www.rbcds.com/

[Enoch Root]

Originally Posted by Dion

RBC Dominion Securities

http://www.rbcds.com/

What about it? (genuinely curious as to your opinion)

In my experience, any time you're dealing with the banks you're going to face higher than necessary fees, a propensity towards propriety products (as opposed to less expensive and usually superior alternatives), and a fair amount of turnover.

[Dion]

Originally Posted by Enoch Root

What about it? (genuinely curious as to your opinion)

In my experience, any time you're dealing with the banks you're going to face higher than necessary fees, a propensity towards propriety products (as opposed to less expensive and usually superior alternatives), and a fair amount of turnover.

It's not really a bank but more of a weath management investment firm. Also the investment advisors are not limited to only using RBC funds. The advisor I have was once with RBC and wanted the flexibility to use any funds or stocks as he pleased so he took his services and clients to RBCDS.

Overall the experience has been excellent and my advisor has handled my retirement funds and other investments quite well. Been with RBCDS for about 8 years

[Wormius]

I would also add that my experience with RBC DS, is that the advisors are a lot more proactive and give you a heads up on when / what to buy or sell, as opposed to buying a few funds and sitting on them forever.

Also, as Dion said they aren't limited to RBC funds, but can buy/sell any mutual funds, ETFs, stocks, etc.

[Enoch Root]

of course they are not limited to RBC funds, but they are typically better compensated for selling them.

[Dion]

Originally Posted by Enoch Root

of course they are not limited to RBC funds, but they are typically better compensated for selling them.

I don't know if they are but I can say from my experience my advisor does my investments based on the best funds and stocks available.

[Enoch Root]

I am curious how you decide what 'the best funds available' are

[Dion]

Originally Posted by Wormius

I would also add that my experience with RBC DS, is that the advisors are a lot more proactive and give you a heads up on when / what to buy or sell, as opposed to buying a few funds and sitting on them forever.

Also, as Dion said they aren't limited to RBC funds, but can buy/sell any mutual funds, ETFs, stocks, etc.

A good advisor understands the markets and is able to advise when it's time to move from one fund to another. In 2008 I lost half the value of my investments due to the global crash and since that time I have more than doubled the money I lost. I only wish I had invested more money after the crash

[Enoch Root]

Originally Posted by Dion

A good advisor understands the markets and is able to advise when it's time to move from one fund to another. In 2008 I lost half the value of my investments due to the global crash and since that time I have more than doubled the money I lost. I only wish I had invested more money after the crash

This is called tactical asset allocation and there are piles of studies that show that (like with all forms of market-timing), the vast majority under-perform the market over time.

IMO, advisors should be focused on goals, and keeping their clients on a path to achieve those goals, not on trying to outsmart the markets.

[Dion]

Originally Posted by Enoch Root

I am curious how you decide what 'the best funds available' are

My advisor will give me the past performance of a number of funds and then suggest why he thinks this fund is the one to buy. He will also explain why I should move from one fund to another and why market conditions are indicating a change is in my best interests. I should also add that i'm not a huge follower of the market and have limited knowladge of all the funds out there. In the end there is a certain amount of trust I give to my advisor. That and the fact he explains it in a financial language that I can understand.

[Dion]

Originally Posted by Enoch Root

This is called tactical asset allocation and there are piles of studies that show that (like with all forms of market-timing), the vast majority under-perform the market over time.

IMO, advisors should be focused on goals, and keeping their clients on a path to achieve those goals, not on trying to outsmart the markets.

My advisor is focused on goals and making the necessary moves to keep it on track. We review this often such as where my risk level is and has it changed. Also expections for yearly returns and weather we are meeting those goals.

It's not about outsmarting the market but making sure you are well diversified to minimise any loses.

[mustache ride]

How much do you need to start with an advisor? If you go in with less than 50K are they going to laugh you out the door?