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Originally Posted by nnnnnnnnnnnnnnnnnnnnnn
I let Mact handle my investments since he is god of the stock market...
Financial advisors are POS. They sell you product and don't know anything about investing or planning. A series 7 doesn't mean squat. Stay away from all of the bulge brackets. They charge higher fees and commissions for crappy returns.
Anyone who doesn't care to take an interest in their investments (i.e. let someone else care about it and just mail me the statements) should be in index funds. If you want above average returns on top of that hire a money manager..
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Does one need different qualifications to be a "money manager" as opposed to a "financial adviser?" This person at Edward Jones bills herself as a "financial adviser."
Commission-based fees bug me because it's in her best interest to buy and sell as much as the investor will let her. It seems like the only thing stopping her from doing that is that she agreed to some "fiduciary duty" to only work in the best interest of the investor, but who's to judge something like that?