| I see people handing over money to a financial | | | | Fund managers know how to buy shares they think |
| advisor or broker or fund manager and expecting | | | | might do well. They are obliged to buy shares when |
| them to make money for them all the time. Granted | | | | they get your money and not wait for the right time |
| it's their job - however 70-80% of them don't do | | | | and price. They don't automatically know how to |
| better than the market average. | | | | make money just because they are fund managers. |
| In my time mentoring and coaching people in the | | | | Don't get me wrong. Not all brokers, financial advisors |
| share market I have met many with sad stories | | | | and fund managers are in this bracket. Some do |
| about how their trusted broker or financial advisor | | | | know how to make money as well. |
| took their money and lost lots of it. Well in reality | | | | How can you take control? |
| what happens is that people hand their money to the | | | | By teaching yourself how to make your own share |
| broker or advisor or fund manager quite willingly. | | | | investment decisions without the aid of brokers, |
| Most inexperience investors loose money in the share | | | | financial advisors or fund managers. |
| market. This includes brokers, financial advisors and | | | | By making sure you get plenty of practice at it |
| fund managers. | | | | without risking your funds so when you do invest |
| I have coached brokers and fund mangers on making | | | | real money you are confident that you will get a |
| above average profits from the share market. Why | | | | better return than the average, which also includes |
| would that be the case if they already knew how to | | | | most brokers, financial advisors and fund managers. |
| do it? | | | | Secondly I constantly meet people who are taking |
| Brokers know how to sell brokerage. That's what | | | | advice from people who are not rich. |
| they do. They don't automatically know how to | | | | People come to us with stories about where they |
| make money just because they are brokers. | | | | get their share tips from. Some are quite frightening. |
| Financial advisors know about investment law, know | | | | Most tips lead to financial disaster. Occasionally one |
| what they need to disclose, know which fund | | | | might pay off, but that is rare. Fancy putting you |
| manager pays them the most commission for putting | | | | money into a share tipped by a taxi driver. |
| other peoples money into their funds and know how | | | | Unless the taxi drive has made a pile of money from |
| not to get sued. They don't automatically know how | | | | shares. In that case he is worth listening to. Again |
| to make money just because they are financial | | | | there's one main way to fix it - and I've given it to |
| advisors. | | | | you above. |