Just want to chime in quickly on Schwab. I have been with Schwab since 1980, so way back to when, can you believe it, the phone was the fastest way to communicate. In all those years I have never had one single complaint. Anytime I call I talk to, not only someone knowledgeable, but friendly, cheerful people. Just wanted to throw that in, as I am a long time customer of Schwab and can highly recommend them.
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Just want to chime in quickly on Schwab. I have been with Schwab since 1980, so way back to when, can you believe it, the phone was the fastest way to communicate. In all those years I have never had one single complaint. Anytime I call I talk to, not only someone knowledgeable, but friendly, cheerful people. Just wanted to throw that in, as I am a long time customer of Schwab and can highly recommend them.
To concur with all the happy voices on Schwab, I ditto the above completely!
Saul
Hi hlygrail, It looks more like over 10% in six months. If you want to convince yourself to stay with him, you better quit doing so well in your self managed accounts.
Saul
I agree Saul…if your advisor is not beating the market consistently, you need a new advisor. There is no need to get locked into a single advisor just as there is no need to get locked into a single stock.
But you will most certainly need to invest time identifying and interviewing several before choosing.
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I don’t expect any advisor to “beat the market” 100% of the time, no matter how much you pay them. Statistically that’s improbable, and because I inject my own force and will in there, even less so in my case.
The primary reason for my ‘play’ portfolio was to test the waters and prove to myself that I could do it (as in, could put the effort in, not whether I had the ability or intelligence). I’ve been totally transparent with him, and he sees what I see, so I’m giving him a shot. He’s done really well for us in the long-term (helped take my initial 2-digitK seed money to 15x in about 10 years, which did beat the market) and I certainly LOST less than most people during the 2007/2008 excitement. He didn’t do as well from 2011-2013, though.
…All of which is not to justify his existence or performance versus mine, just giving some context.
“advisor always beating the market” Bernie Madoff did. And that fact alone was enough for some analysts to deduce that he wasn’t legit.
But not the SEC. Figures…
“certainly LOST less than most people during the 2007/2008 excitement.” A very good recommendation. Because losses are hard to make up.
Almost anybody can make money in a bull market.