Page 1 of 2 12 LastLast
Results 1 to 10 of 17

Thread: Frustrated with bad financial advice

  1. #1
    New Member
    Join Date
    Apr 2013
    Location
    jozi
    Posts
    4
    Thanks
    0
    Thanked 0 Times in 0 Posts

    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?

  2. #2
    Diamond Member
    Join Date
    Mar 2010
    Location
    Cape Town
    Posts
    6,329
    Thanks
    426
    Thanked 978 Times in 795 Posts
    Get your money for nothing and your chicks for free. I recommend Dire Straits!

  3. #3
    New Member
    Join Date
    Apr 2013
    Location
    jozi
    Posts
    4
    Thanks
    0
    Thanked 0 Times in 0 Posts
    I don't think I quite understand please elaborate?

  4. #4
    Diamond Member Citizen X's Avatar
    Join Date
    Sep 2011
    Location
    lenasia
    Posts
    3,404
    Thanks
    868
    Thanked 701 Times in 613 Posts
    Hi Bron88,

    Welcome to TFSA
    “Ubuntu is the essence of being humane" Desmond Tutu
    Spelling mistakes and/or typographical errors I found in leading publications.
    Click here
    sabbaticus

  5. #5
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,649
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    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.

  6. #6
    Email problem Rafael's Avatar
    Join Date
    Oct 2012
    Location
    Johannesburg
    Posts
    129
    Thanks
    8
    Thanked 29 Times in 20 Posts
    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

  7. #7
    New Member
    Join Date
    Apr 2013
    Location
    jozi
    Posts
    4
    Thanks
    0
    Thanked 0 Times in 0 Posts
    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.

  8. #8
    Gold Member Mark Atkinson's Avatar
    Join Date
    Jul 2010
    Location
    Melbourne, Australia
    Posts
    796
    Thanks
    212
    Thanked 150 Times in 117 Posts
    Blog Entries
    12
    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.

  9. #9
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,649
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    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.

  10. #10
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    4,151
    Thanks
    758
    Thanked 886 Times in 735 Posts
    Blog Entries
    7
    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.
    Excellence is not a skill; its an attitude...

Page 1 of 2 12 LastLast

Similar Threads

  1. Frustrated at SARS losing data...
    By Christel in forum Tax Forum
    Replies: 5
    Last Post: 31-Aug-12, 03:06 PM
  2. Replies: 1
    Last Post: 28-May-12, 09:35 PM
  3. Financial Services
    By Jobmasters in forum General Business Forum
    Replies: 0
    Last Post: 20-Aug-08, 09:06 AM
  4. Financial Advice?
    By Wesley George in forum Business Finance Forum
    Replies: 0
    Last Post: 04-Jun-08, 01:39 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •