Sometimes it is simpler to learn which experts you should avoid compared to learning how to pick the best advisors. This can be tougher than it sounds because good and bad advisors look and sound a great deal alike.
Bad advisors are not bad people. They might have great personalities and are extremely likeable. Sadly, these character traits have not do with skills or ethics.
Some of the most dangerous experts are likeable and they have exceptional sales skills. They are incredibly skilled at convincing people that they are real advisors who put their client's financial interests first.
Someone that does not have experience though multiple business cycles. Anybody that informs you to hang tight though a market static correction better have been through one to know very well what it is like to be scared stiff. It is human nature to hesitate of losing. It helps if your advisor can give you tips how to survive the conflit. It's even better if he has a plan to help you rebuild. Regarding course, best of all, it might have been nice not to lose so much in the first place!
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