I need help finding a solid investment counsellor
- Thread starter Big Rig
- Start date
By all means find a good counseler, BUT try to learn something about investments yourself.. I need help finding a solid investment counsellor
Hard to find a good one you can trust.
Need as many references as possible as the person will be in my pocket.
And I want someone that keeps my pocket full
It is your money, and nobody has the same interests as you in it.
investment counsellor to just recomend and teach or advisor to manage your assets?
i know you said counsellor.... but is that what you meant?
i know you said counsellor.... but is that what you meant?
An advisor to manage
If someone was to mangae my accounts I would want him to teach me where it was going
But not much to manage really
The less churning of my account the better
Be careful out there. Money does strange things to people's ethics. Me, I manage my own money (what little I have). Simple really, buy some ETF's and GIC's. No need to complicate things.
I manage my own investments as well. But if you want to partner with someone that won't line their pockets vs yours, with little turnover, try your bank IA.
TD bank Canadian Equity funds are up about 30% this year on the back of the recovery, and have had a very solid run for several years. Their top ten investments include mostly oil and banks.
They have a wide variety of market funds to suit every risk tolerance level.
Cheers
TD bank Canadian Equity funds are up about 30% this year on the back of the recovery, and have had a very solid run for several years. Their top ten investments include mostly oil and banks.
They have a wide variety of market funds to suit every risk tolerance level.
Cheers
Dont ask us. We give our money away to pretty girls in the hopes they will entertain us for an hour or two. Not the wisest investment if you are looking for financial gain.
Great advice, studying ETF's is an excellent way to learn and you avoid the higher fees associated with other funds. As somebody else said the person with the biggest interest in the money should be the investor and it pays to study. Become knowledgeable about stocks, ETF's etc and don't just go with the flow on mutual funds.
Most of the best advisors want you to have a minimum portfolio value before they will even talk to you. This could be 250k, 500k or 1m so you might not be able to afford the people you might like to speak.
To the OP, put as much time in on your investments as you do researching ladies on here and you should be OK
Yes, I am pleased with them. I have them in my self-directed RRSP and feel good about where that is at (except for my ex trying to get at some).
In the end you manage your money - it's just a matter of whether you give someone else some if it for their advice! Try and keep the trades to a few good ones (easier said than done) rather than chasing the next 'fad' or looking them up everyday - I check my investments every three months and may do 2-5 trades per year and have solid returns so far (but still a relatively small amount compared to some on this board from what I can tell)
Just buy a major bank
Don't buy managed funds. They will just service charge you to death. The best bet is to buy one of the major banks. They pay between 3 - 4% dividend and they appreciate at least 10% per year on average. The royal bank is your best bet. They have increased approximately 700% over the past 10 years and they are still evenly valued when you look at all the financial ratios. Also, they have very little debt, alot of cash on hand and they recently have been looking to make a major acquisiton - likely in America or South America in the neighbourhood of 15 Billion. There growth rates and past management records are excellent.
Don't buy managed funds. They will just service charge you to death. The best bet is to buy one of the major banks. They pay between 3 - 4% dividend and they appreciate at least 10% per year on average. The royal bank is your best bet. They have increased approximately 700% over the past 10 years and they are still evenly valued when you look at all the financial ratios. Also, they have very little debt, alot of cash on hand and they recently have been looking to make a major acquisiton - likely in America or South America in the neighbourhood of 15 Billion. There growth rates and past management records are excellent.
The best way to get a referral is to talk to friends and co-workers - get names from them and then do some interviewing. Most honest and competent advisors will gladly take the time. If your account is on the small side, call a branch office or two of a major firm near you and ask to speak to the broker of the day and interview them. They are generally younger advisors and will typically have more time for smaller clients.
Timbit
Timbit
Hey i can help. well just because i have a great interest in investing because i've helped a lot of people in my family and their friends and i do my own finances too. like i dont mean to do things hands-on just because... first...this is terbs so u dont know who you can trust. but what i can do for you is just advise you on things you should do. you dont need to give me names or account numbers. just sums and different types of accounts so i can advise you and tell you how to divide your money into what kind of account. then you can stop by a bank or investment firm and do the stuff yourself.. I need help finding a solid investment counsellor
Hard to find a good one you can trust.
Need as many references as possible as the person will be in my pocket.
And I want someone that keeps my pocket full
if everything turns out great...u can buy me a beer. lol
i guess we can just communicate on terbs via pm or if u prefer to do it over personal emails or phone. let me know.
let me know if ur interested.
Some rules of thumb I've heard...would be good to give to your investment manager...
1. No more than 8% in any one stock
2. No more than 20% in one sector of the economy
3. No more than 1% total annual cost for MER's, sales fees, etc. That rules out virtually all mutual funds, but ETF's almost all fit under that.
4. Maintain some foreign and US exposure...minimum 20%, more if you have foreign or US expenses/living costs at some time in the future
5. Focus on dividend/income producing stocks, those that consistently grow dividends.
6. Keep some in cash or liquid investments for opportunities that arise, or emergencies
7. Cash in half of anything that doubles....use the money to buy something else that looks good.
Hey... actually if you follow these suggestions you probably wouldn't need much investment advice. But someone to execute this strategy would be a bonus...sometimes it is hard to pull the trigger when you have a lot of other things to do...and/or when greed/fear sets in.
1. No more than 8% in any one stock
2. No more than 20% in one sector of the economy
3. No more than 1% total annual cost for MER's, sales fees, etc. That rules out virtually all mutual funds, but ETF's almost all fit under that.
4. Maintain some foreign and US exposure...minimum 20%, more if you have foreign or US expenses/living costs at some time in the future
5. Focus on dividend/income producing stocks, those that consistently grow dividends.
6. Keep some in cash or liquid investments for opportunities that arise, or emergencies
7. Cash in half of anything that doubles....use the money to buy something else that looks good.
Hey... actually if you follow these suggestions you probably wouldn't need much investment advice. But someone to execute this strategy would be a bonus...sometimes it is hard to pull the trigger when you have a lot of other things to do...and/or when greed/fear sets in.
Listen to AM640 Sunday Mornings at 9AM-11AM. The show is called Power and Money. They have a couple of Hosts that alternate. Each firm seems pretty good. They don't do hard sells just want you to come in and get a second opinion. This past week they said that no matter what counselor you use make sure they are certified by the industry. I have not used them just listen to them. Also maybe just call in to get a feel for their style.
Agreed!
However there is always,
Mad Money TV Show: Make Money with Money Manager Jim Cramer on CNBC ...
You forget to say Booooooooooooyah ski-daddy!!!!
BTW who can forget the following Cramer's classic
http://www.youtube.com/watch?v=rOVXh4xM-Ww
And oh yeah Erin Burnett is hot as a brunette....
Well said but you can be DIY investor by using simple vanilla ETFs from ishares/Blackrock, Vanguard from the states, or even Claymore or State Street in the States.
Avoid 2x, 3x leverage up or down side ETFs like plague, such as those from Horizontal Beta Pro in Canada, Proshares and Dimension in the States. They are just speculations and rarely live up to the hype.
Be skeptical on those dubicious, shady CFAs and CFPs work as investment counsellor/whatever as they always have hidden agendas and conflict of interests. They sometimes churn your account and act like croupier/dealer at Las Vegas/Macao/Casino Rama.
Never get confused on fee-based and fee-only when it comes to compensate your adviser/well-dressed salesperson. Fee-only is pretty obvious. You pay his/her service just like seeing a doctor, an accountant, a lawyer or a SP/MPA for one service transaction
Fee-based on the other hand is a leakage as you pay your adviser like hiring an electrician to screw in a light bulb-and then paying him extra fees, year after year, for the light it produces.
BTW, take your money and run asap if you hear your adviser say "churn everybody to buy a Ferrari/Lambogini/Masterati/Mercedes" cause it is a red flag for malfeasance
