Financial Industry think their clients are "muppets"?

darkpool

jem16 wrote: »

Someone could POTENTIALLY save 1.5% just the same as they could POTENTIALLY lose 1.5% or even a whole lot more by going DIY.

Never once defended the fund management industry. I have though defended the IFA industry through experience. Are you confusing the role of an IFA with the role of a fund manager again?

To date around 35 years and a total portfolio of £345k approx. Is that small?

so POTENTIALLY would it be possible for an IFA to lose all his clients money?

i would say 345k is moderate. what did your IFA tell you to invest in? do you still use an IFA?

cloud_dog

darkpool wrote: »

I would argue that someone intelligent enough to save a decent amount of money is intelligent enough to invest it for themselves.

We've had this discussion......

Originally Posted by cloud_dog
EDIT: I have a friend who works for a government agency and he is super intelligent (and very well paid for it)..... financially he's a nightmare. Where does he sit in your world?

and you magnanimously agreed that......

darkpool wrote: »

is that a trick question? i think he goes to an IFA and pays 3% a year for an investment.......

so why now are you back to the........ 'we only need to concern ourselves about intelligent people'? Again, what about those who cannot or will not research financial options?

Or for you is it just easier to ignore these people because otherwise your high horse starts to buckle?

darkpool

cloud_dog wrote: »

so why now are you back to the........ 'we only need to concern ourselves about intelligent people'? Again, what about those who cannot or will not research financial options?

ehhmmm they go to an IFA and pay 3% for investments? you can take a horse to water but you can't make it drink....

brasso

RonLeroy wrote: »

I think it is not even the whole financial industry but this site too. They block threads about silver just because it is not profitable for the owners of this site.

As we look at financial industry, none of the British banks get rates at their deposits higher than inflation. The whole purpose of the financial industry is to redistribute your wealth to their own. And they trick clients to make them think what banks and investments companies work for customers.

If you want your money work for you, keep it simple invest in real estate or precious metals. Avoid investing into paper like stocks and bonds until who have access to insider invormation and you really know how price will chaange tomorrow

Make your mind up, Ron.

You've been recommending investors to buy oil, then property in Turkey, and now 'precious metals'.

RonLeroy wrote: »

I think it is not even the whole financial industry but this site too. They block threads about silver just because it is not profitable for the owners of this site.

I don't think anything people talk here about is "profitable to the owners of this site".

Could there possibly be another reason?

cloud_dog

darkpool wrote: »

ehhmmm they go to an IFA and pay 3% for investments? you can take a horse to water but you can't make it drink....

So we can be clear..... You accept that there are reasons/situations where a person would consult an IFA.

That's a good step forward. Only another 11 to go.

dunstonh

ehhmmm they go to an IFA and pay 3% for investments?

Where you do get 3% from ? Another made up figure from you.

cloud_dog

dunstonh wrote: »

Where you do get 3% from ? Another made up figure from you.

I was just happy to get him to accept there are situations where it is beneficial / acceptable to use an IFA.

dunstonh

cloud_dog wrote: »

I was just happy to get him to accept there are situations where it is beneficial / acceptable to use an IFA.

There are a number of areas where it would be good to get him to acknowledge his failings. One would be to accept that you cannot assume that everyone is the same and will pay the same. Another would be not to keep changing who gets this hypothetical 3% he keeps repeating.

RonLeroy

brasso wrote: »

Make your mind up, Ron.

You've been recommending investors to buy oil, then property in Turkey, and now 'precious metals'.

Oil, precious metals and real eestate are real assets. They have continious rise in price for the last 10 years and will continue to rise.

Flat in Turkey is a diamond asset, the ratio between flat cost and renting price probably is the best in the world. You buy it cheep and start renting for the profit.

Precious metals have far better price growth than any British bank deposit rates.

jem16

darkpool wrote: »

so POTENTIALLY would it be possible for an IFA to lose all his clients money?

Potentially very unlikely.

what did your IFA tell you to invest in?

He didn't tell me to invest in anything. He made his recommendations as to what would fulfil my objectives. We then had a discussion and built a suitable portfolio which includes a whole manner of asset classes both active and passive.

do you still use an IFA?

Yes.