Had a free call with one of the advisor. Had compelling points which I already knew -that I was concentrated on tech ( qqq, individual stock), close to 100% on US stocks. Advised to get into smart weighting and showed me comparison with s&p 500, tax harvesting etc Fee is ~1%. First 6 months are free. Anyone using this service ? #personalfinance #investments
Does their solution over perform sp500? That’s a big claim
Had my first call with them in June of 2020. Told me I was weighted too heavily to tech. Asked him if i let him manage my money, could I make adjustments. He said no, unless it’s for moral / religious reasons (like tobacco companies). I declined to let him manage. Sep 2020 comes, I go hardcore into crypto after ethereum’s upgrade date was announced. Had a call with him again a few weeks ago and he was at a loss for words.
I’m invested in VTI, VOO and blue chip tech companies. Had an advisor tell me I would need to sell it all and transfer the money to them so he could invest it “properly” (his word). Told him I wasn’t interested and noped out.
Do financial advisors have access to your account info/portfolio?
If you don't have financial discipline and prone to impulsive action with stock market ups and downs then they are good. But if you like aggressive growth and savvy of investments type then No. It applies to any service not just personal capital. I was their client for 9 months and dropped them. Their strategy doesn't align with mine i.e. their most aggressive strategy is still conservative and they don't advise on picking stocks etc
Picking stocks is not a strategy, it's gambling. The market goes up as a whole while single stocks march towards zero in the long run.