Welcome to a little of this a little of that

I'm going to post my thoughts mainly on the investing world and hopefully help somebody better manage their money,especially their 401 k.

Wednesday, December 21, 2011

Is your investment professional right for you?

this is one part of an interview between Josh Brown and Lee munson-you can read it here:http://www.thereformedbroker.com/2011/12/21/the-return-of-lee-munson/
JB: Let's say I'm an investor, what's the number one sign I should look for to tell me whether or not the investment professional I'm working with is wrong or right for me? LM: Do you want an advisor that just farms things out to any wholesaler that provides steak dinners? Do you want an advisor that is old and outdated? What about a ‘nice guy’ that goes to your church? Screw all of this. The person in front of you needs to have some exposure to the actual process of running money. People who actually touch the stuff are not always the nicest guys in the room, you and me being a case in point.The bottom line: you have to find an advisor that sees you as the prime fit, not the other way around. Don’t hire someone that isn’t a specialist in what you are looking for. Both parties need to have a similar view or philosophy or the relationship will not work. You need an advisor that will succeed when you succeed, not when he suckers you into buying an expensive product.

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