Just as you would diversify your investment portfolio should you diversify you financial advisors?
Question:
Any input?
I would only invest with one financial advisor, because they will know exactly your situation is. And yes if your advisor is willing to give you a break on fees it would be best to have a large sum of money invested with the advisor to give him/her a reason to give you a break as long as they are still making money for their work.
The more advisors you have the more advice you are going to get, confusing you even more and of course each one is going to charge their own fees. Stick to one but if you are not happy consult another one and get a second opinion and that shouls help to make up your mind.
Your welcome.
B 4 U DO ANY THING READ THIS BOOK
I only have one financial advisor, who is also my tax accountant. I don't take investment advice from him because I know how to invest better than he does. I invest using more complex investment vehicles than he does and make more money than he does. I only take investment advice from my mentors, who happen to be wealthier investors and wealthier business people than I am. Also, I get investment advice from those who have succeeded and become wealthy from their choice of investment vehicles. In a nutshell, I take advice from experts who have actually achieved success with the advice that they are giving me.
However, I do take my accountant's advice on financials, tax laws, ways of minimizing financial risks, ideas on how to get/strike better business deals. I know how to read financial statements in order to decide if an investment is sound or not, however, he helps me decipher some of the more complex financial details of an investment.
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