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| Benjamin |
 Posted: Fri Dec 09, 2005 7:21 am Post subject: Financial Advisors |
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Administrator
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A PM from one of our members here got me thinking.
Why isn't there more financial advisors joing and posting? Are financial advisors afraid of posting something that could get them in trouble? Do they not want to give away free advice because it would hurt their business?
It seems to me this would be a great opportunity to promote yourself and your site (if the financial advisor had one). I guess I'm at a loss.  |
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| jblong2 |
| Posted: Fri Dec 09, 2005 7:27 am Post subject: |
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Investing Associate
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| they're afraid of revealing how full of BS they are |
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| Dave Rathbun |
| Posted: Fri Dec 09, 2005 9:22 am Post subject: |
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CFO
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I would bet that it's more related to legal issues than anything else. If you are putting out advice and the advice turns out to be horribly wrong... even if you're not paying for it... 
The other side of the question is: How do you know that they're not actually here?  |
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| Benjamin |
| Posted: Fri Dec 09, 2005 9:26 am Post subject: |
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Administrator
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| Dave Rathbun wrote: | | The other side of the question is: How do you know that they're not actually here? |
It's true, they might be. But I would believe they'd put a link in their signatures. Maybe not though...maybe they are just rogue underground helpers so they don't get kicked out of the Financial Advisor Union.  |
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| Im Not Warren Buffett |
| Posted: Fri Dec 09, 2005 8:45 pm Post subject: |
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CFO
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Some financial advisors are horrible; they know little about actual money management and are essentially glorified salesmen hustling commissions. My mother had one such experience, she decided she was capable of investing her money herself in the late 90s and a broker was only too happy to sell her Lucent and JDS Uniphase  .
Others are good, my grandfather has been with the same guy for decades, and together they managed to give him the financial security to retire at 60 when his hearing started to go. He taught his entire life at a Catholic high school, his wife (my grandmother) was a nurse, and they managed to put 6 kids through college. Thanks to some fortuitous moves involving Microsoft in the late 80s and early 90s, he was able to spend most of his time with my grandmother when she had cancer  .
My point is, if you find someone who looks out for you and you are comfortable working with (its a partnership), you can become financially free and spend your (elongated) retirement as you wish. If you find a bad financial advisor, then you buy Lucent for over $60/share. Lucent is currently under $3  . |
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| DKnightSr |
| Posted: Sat Jan 28, 2006 1:53 pm Post subject: |
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Member of the Month
May
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Fee only advisors are usually better than the rest. They know the only way they get paid next year is if they help you this year. They are not tied to a particular set of priorities- except yours. However, at their rate of pay- ya' gotta' have a pretty healthy portfolio to support the cost.
However, for me- I made the money, and I'll blow it if I goof. I don't need help doing that. As for ROI, I hang out at this little site called E-Investing and take LOTS of notes Much cheaper, and more fun too.  |
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| efflandt |
| Posted: Sun Jan 29, 2006 12:07 pm Post subject: |
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Investing Manager
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They would probably rather sit down in their own office or the kitchen table of someone totally clueless, than someone actively seeking useful information on the internet and willing to learn how to invest (successfully) on their own.
Besides, wouldn't promoting their services be considered spamming?
My sister retired early from the phone company, but her 2nd ex (who got freaky when stopping his medication) grabbed her 401k and daughter's college fund [she got the paid off home, and daughter's father (1st ex) is helping with college]. Since she had no job, she joined one of those insurance/financial advisor MLM's, had plenty of time to take their courses, and loves it. She has not tried to sell me insurance yet (knows I don't need it), but does want to talk to me about what to do with an IRA CD expiring soon. But after getting my feet wet in the markets for 6 months, and needing that balance for lower trade fees, I suspect that self directed investing would be so much more interesting. If I figure it out, her or her daughters will inherit a chunk of it anyway. |
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| Vester |
| Posted: Wed Feb 01, 2006 1:27 pm Post subject: |
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Investing Sr. Associate
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What are MLM's exactly, I've heard that before.
What are your plans for the CD? |
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| Dave Rathbun |
| Posted: Wed Feb 01, 2006 2:46 pm Post subject: |
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CFO
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| Vester wrote: | | What are MLM's exactly, I've heard that before. |
Amway. 
MLM = Multi Level Marketing. You join, then get your friends to join, they get their friends to join, and all the money flows uphill.  |
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| frusnak |
| Posted: Wed Feb 01, 2006 2:51 pm Post subject: |
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CFO
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| Do you mean if any of us give advice and someone loses money we are liable???? |
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| DKnightSr |
| Posted: Wed Feb 01, 2006 3:30 pm Post subject: |
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Member of the Month
May
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| frusnak wrote: | | Do you mean if any of us give advice and someone loses money we are liable???? |
That's right! Buddy, you owe me a TON!!! Ha Ha Ha Just kidding Mr Frusnak! I've snitched more than one good idea from you already, so you're off the hook! |
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| Benjamin |
| Posted: Wed Feb 01, 2006 3:53 pm Post subject: |
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Administrator
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| frusnak wrote: | | Do you mean if any of us give advice and someone loses money we are liable???? |
I think your safe, thats why we have the disclaimer at the bottom of ALL pages...just to be safe. Besides, they won't come after you, they would come after the website. |
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| frusnak |
| Posted: Wed Feb 01, 2006 4:00 pm Post subject: |
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CFO
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Well I would say why would they give away what they get paid for. If you look at all the different threads around our site you would be amazed at the level of investment information that is available by our members. Some have really grown in their abilities at analizing a stock!!! Kinda brings tears to my eyes  |
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| stoogepid |
| Posted: Tue Feb 07, 2006 6:35 am Post subject: |
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Investing Sr. Associate
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| Benjamin wrote: | | frusnak wrote: | | Do you mean if any of us give advice and someone loses money we are liable???? |
I think your safe, thats why we have the disclaimer at the bottom of ALL pages...just to be safe. Besides, they won't come after you, they would come after the website. |
Thats how the forum is protected. |
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