Do You Need Investment Advisors or DIY Investing?
Do you really need investment advisors or you are doing the investing alone? Do you need financial advice or you think you’re good enough to invest your money? Maybe you think you don’t need investment advisors because you already learned investing tips in blogs, forums, seminars, books and magazines. Maybe you follow the advice we published awhile ago on where to find the best finance tips. After you have read this article, share your comments and let me know if you really need an investment advisor or not.
What is an Investment Adviser?
They are the persons or investment firms that gives investment advice about securities to their clients. If a clients wants an investment advice, he or she will find an investment adviser to get the best advice on where and when to start investing his or her money.
The investment advice from investment advisors aren’t free. Investment adviser usually charge the client when giving investment advice. Sometimes, the amount of money to be paid by the client is based on how much the client is willing to invest.
Get Advice Only from Registered Investment Advisor (RIA)
Not anybody can give investment advice. Investment advisor are;
- Has sufficient assets
- Registered in Securities and Exchange Commission
- Prohibited from disseminating advice
When I read the what do investment advisor do in Investopedia, it tells the following;
An investment advisor who has sufficient assets to be registered with the SEC is known as a Registered Investment Advisor, or RIA. Investment advisors are prohibited from disseminating advice known to be deceitful or fraudulent, and from acting as a principal on their own accounts by buying and selling securities between themselves and a client without prior written consent.
Source:
Going back to the question; do you really need investment advisor? I think the answer is absolutely YES! A BIG yes! Maybe you asked why should I need investment advisor if I can do the investing alone? Maybe you know how to invest in stocks, mutual funds and other paper assets like bonds and savings.
The question is, do you know when is the right time to invest in stocks? At what age you should pull out your investment funds in the stock market? Investment advisor can help and guide you along the way.
To find the right answer to this interesting question, ask yourself, are you willing to pay $100 to get investment advice or are you willing to make investing mistakes? Are you willing to pay small amount of money in order for you to assure that you invest in the right time and at the right place? Or will you ignore investment advisors and you take the risk by yourself? The hard part is when you make investing mistakes, you didn’t only lose money but also time that is hard to get back.