Quote:
Originally Posted by 4444
i'd rather have an investment advisor that can offer me everything vs. bank advisors, which i believe (though could be wrong) are pushed to sell the bank products. agian, i could be wrong and would be more than happy to hear that i am.
my financial advisor is a friend - i trust him, there are controls in place, and i know how to invest and he and i share the same investment strategy, so i'm happy (don't go with a friend b/c they're ur friend)
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I wouldn't say bank advisors are pushed to sell products. The system plugs out certain recommended funds/most advisors don't know any better. Vast majority don't trade nor do they understand underlying mechanisms of the market.
Easiest way to tell, sit down and have a conversation with them if you have to see them in the first place.
You're right though, I would rather have an Investment Advisor because they have more and different securities to play with. Same case though, vast majority don't know shit.
Frankly, I would rather have a portfolio manager who can act under discretion. The time lag between an IA contacting a client, asking to confirm the trade, and performing the trade is just too damn annoying.