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Thread: Frustrated with bad financial advice

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    Lightbulb Frustrated with bad financial advice

    Hello, I am feeling frustrated with receiving advice from financial planners who recommed luke warm water investments.

    I want to get great growth on my money, doe anyone have recommended products or services which I can try ( I want to educate myself not rely in these guys that want to sell me stuff because they get a commission)?

    Have you experienced the same problems?

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    Diamond Member adrianh's Avatar
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    I don't think I quite understand please elaborate?

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    Diamond Member Vanash Naick's Avatar
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    Hi Bron88,

    Welcome to TFSA
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    Site Caretaker Dave A's Avatar
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    Seeing as you're talking to financial planners, I take it you're talking investing rather than speculating.
    What have these financial planners been recommending?
    And what sort of return are you aiming for?

    Here's quite a good tool for tracking the relative performance of a wide range of investment funds. It might help you sift out good advice from bad...

    My link sorts performance over the past 5 years, but play with it.
    The trouble with opportunity is it normally comes dressed up as work.

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    Email problem Rafael's Avatar
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    How long are you looking to invest for?
    What type of returns are you looking for?
    What is the investment amount are you looking at (for diversification)
    Are you looking for flexibility and regular withdrawals or investing for a long period of time without withdrawals.
    You miss 100% of the chances you never take

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    Thanks for your tips will look at that link now , Yes I am looking for investments not speculations.

    I am finding they want to sell me policies and investments which they will get a cut or fee.

    I am looking to invest long term like 3+ years, returns of at least 20%, but instead my financial planner recommends investments with no guarantee only around 10%
    Im not big on diversification - I think if I can get one investment that works well I wont dilute it with various others which don't perform.

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    Gold Member Mark Atkinson's Avatar
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    You want 20% guaranteed returns?

    When you find that, show me the way!
    (Assuming you mean 20% p/a)

    Also, throwing your eggs into one basket is unlikely to be a good idea unless that capital is completely expendable. Pretty sure any financial planner would recommend diversification.
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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by Mark Atkinson View Post
    You want 20% guaranteed returns?

    When you find that, show me the way!
    (Assuming you mean 20% p/a)
    By no means guaranteed, but there are a few funds that are producing those sorts of returns on a very consistent basis.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Blurock's Avatar
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    Quote Originally Posted by bron88 View Post
    Hello, I am feeling frustrated with receiving advice from financial planners who recommed luke warm water investments.

    I want to get great growth on my money, doe anyone have recommended products or services which I can try ( I want to educate myself not rely in these guys that want to sell me stuff because they get a commission)?

    Have you experienced the same problems?
    I trust that you are aware of the financial principle; high risk, high return. Also as Mark said, putting everything into one investment is risky.

    One can also expect a financial adviser to earn a commission as they do not earn salaries, but depend on commission only. This is usually built into the price of the investment product. It is therefore in their own interest to give the their clients the best advice. Unfortunately not all financial advisers are that well trained and some are not that much experienced. Choose your adviser well and don't be afraid to ask questions.
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