INVESTING STRATEGY
Financial advisor/cancel or keep
Hi Pearler community Was just a little curious about keeping a financial advisor or whether it’s time to move on. They’ve done a great job with my financial situation for the last few years but I’m just wondering whether the $2000/year approx that I get charged from super is worth it. My super and managed fund are doing well with their help to set up and my mortgage is ok. They already have a relationship with my mortgage broker which is helpful but sometimes I don’t really get many updates after our yearly review of my situation. I don’t really want to take on everything myself so maybe keeping them may be smarter. Any suggestions or tips would be greatly appreciated. Lee
Lee Marquis.
24 June 2024
1 Comments
6 months ago
Hi Lee.
You’ve kind of answered your own question here.
You don’t want to do it yourself, so keeping them might be the right move. Is it worth $2,000 per year though? Or could you take on a little bit of hassle and keep the $2,000 for yourself?
Do you not feel confident enough to invest by yourself at this stage? I’m not sure of your super situation, but most Pearler investors basically have a set-and-forget type super fund where there’s no ongoing work. And for personal investing, most of the community here follows a pretty simple approach using things like index funds and just adding to the portfolio when they have savings. Not much more to it than that.
But of course it’s a personal choice at the end of the day. So you’ll have to consider what you think the advisor’s role is here in the big picture. Are they actually helping you that much, or do they seem to be just taking fees for very little work?
Cheers, Dave
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