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first time investing via financial advisor
Comments
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Rollinghome wrote: »People in the construction industry, small and large builders, developers, architects, project managers, etc.etc. employ plumbers, roofers, heating engineers, brickies, chippies, labourers.... They may know as much as the people they employ, may have even been 'on the tools' themselves, but don't do the whole lot themselves.
Bit like offices. The MD might know how to make coffee and use the photo-copier but he he might employ someone to do it for him. I think it's called delegation.
Except we're not talking about those in the industry - we're talking about the average householder.If you have any other questions like that could you ask your mum?
I certainly will. At least I will be sure of getting a snesible answer. 0 -
No we weren't talking Jem, and you said "you". You may learn about pronouns in your next class.Except we're not talking about those in the industry - we're talking about the average householder.
Good girl.I certainly will. At least I will be sure of getting a snesible answer.0 -
Rollinghome wrote: »No we weren't talking Jem,
Last I looked it was an open thread.and you said "you". You may learn about pronouns in your next class.
Not familiar with the use of the generic you or indefinite you then? Last I looked it was increasingly being used as a generic pronoun and not simply a personal pronoun.0 -
I think I heard your mother calling you Jem.0
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Rollinghome wrote: »I think I heard your mother calling you Jem.
That really does show your level of maturity.0 -
Quality - well done you two, much more entertaining than that eastmindbenders the wife is watching!0
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I hate to butt in on your private conversationThe question was 'had I used an IFA'. If I felt I needed an IFA then I would find one I was comfortable with.
If I had cold radiators and a plumber told me my heating system needed a pressure clean how do I know that is reasonable? How do I know the charge he proposes is reasonable? How do I know its not just sticking themostat valves?
The specifics are different the process is the same. but here goes.
The difference with a plumber is that you can get another one to confirm the fault. Asking any 2 IFAs or even fund managers if a particular investment will perform well in the future is pretty much like throwing dice. You only have to look at companies reporting this week. Half the brokers say a company is a strong buy, the other half a strong sell. If they can't even decide if an investment is worth making or not how is anyone else likely to know!Remember the saying: if it looks too good to be true it almost certainly is.0 -
Wow. What a completely imature and arrogant <insert appropriate>.Rollinghome wrote: »I think I heard your mother calling you Jem.
Rollinghome can join my only other poster on ignore.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
jimjames, you are correct and you are never going to get a guranteed or absolute answer.I hate to butt in on your private conversation but here goes.
The difference with a plumber is that you can get another one to confirm the fault. Asking any 2 IFAs or even fund managers if a particular investment will perform well in the future is pretty much like throwing dice. You only have to look at companies reporting this week. Half the brokers say a company is a strong buy, the other half a strong sell. If they can't even decide if an investment is worth making or not how is anyone else likely to know!
In a situation where you are not the expert all you can do is to undertake appropriate action so as to mitigate the risk of acting on bad, or costly (in the IFA example) advice.
What if you get two plumber opinions, how are you going to know, absolutely, which one is correct? The answer is that you are unlikely to know, hence the need to ask questions and obtain more information. In this example information might be speaking with previous customers etc, etc.
As mentioned previously the specifics will vary but the process would be the same, and its a fairly simple concept that others on this thread appear unable or unwilling to comprehend.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
What if you get two plumber opinions, how are you going to know, absolutely, which one is correct? The answer is that you are unlikely to know, hence the need to ask questions and obtain more information. In this example information might be speaking with previous customers etc, etc.
So who's opinion would you most LIKELY go with
Plumber a - that has only a basic plumbing certificate that he got twenty years ago
or
Plumber b - thats been doing the job for years but has the highest industry qualifications as well as spending many hours of his own time training in specialist areas of plumbing. He always works to voluntary code issued by the by the plumbers association and also has an ISO accreditation that he paid for himself0
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