Two IFA’s In A Pub.

 

On Friday of last week I was standing in the King and Queen pub [Brighton] with one retired Independent Financial Adviser and one currently authorised by the @FCA.

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I have known these two people for over twenty years and had in the past supervised them both, this meant that I had to check their advice and comment accordingly. Certainly both of them are what you would call experienced and competent advisers.

We’d had a very nice lunch and were now enjoying large rum and coke’s in order to round of the afternoon – a great time was had by all.

Despite having enjoyed a few drinks the talking became more and more serious when I was explaining to them one of the investment strategy’s I teach over here at MoneyTrainers.

Of course both of them explained that neither of them could do what I do because of the regulator.

That was interesting to me – both of these experienced financial advisers were not able to do the best thing for their clients because of the regulator.

 

Effectively the regulator is more concerned about regulating than consumers getting the right investment planning in place.

But I think it’s deeper than that. I think that the wealth management industry which includes many independent financial advisers don’t do the things I teach because they either can’t be bothered or they refuse to understand. Of course thirty years ago their approach would have been understandable, but in 2015 something is terribly wrong.

Importantly the one thing that we kind of agreed on – the investment returns from one fund had been good. The fund in question was the Fidelity Special Situations fund.

Indeed it is a good fund. But just one of my suggested funds has ‘knocked it into a cocked hat’ over a consistent period of time and for two reasons.

  • It is not trying and failing to be a better performer than the respective indexes.
  • Nor does it  make you pay for the attempt to beat the respective index.

You can continue to pay your fund managers and IFA’s for the privilege of having under performing investments or you can take control yourself and benefit in knowing that your path is a right one.

Even if you only get the same investment returns as the star manager from one of my strategies you will still be better of because charges will be at least ten percent lower every ten years.

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