A few days ago, in a discussion about the merits (or otherwise) of financial advisors, I made an admission:
I’m having a hard time finding advisors and mentors who can move me to Making Money 301 (protecting my wealth) …
If you read the article, you’ll begin the see why … in the meantime, Rick kindly offered a suggestion:
Yes! I suspect that there are few people that have $70 million of their own, and fewer still with a long track record of protecting it! You might have to settle for someone with a lot of experience managing other people’s money that has the right mindset to protect your wealth.
I’ve found that Brian Preston’s podcasts has given very solid MM301 advice: http://www.moneyguy.com/. If I had $7 million to protect I would ask him or someone like him.
But, WJ proffered the opposing view:
You gotta be kidding.
Asking Adrian who have made $7million himself to send his money to someone who have not made that much money from his supposed expertise?
The only way that advisor is getting rich is from the management fees he’s getting from those clients of his.
My philosophy is simple. If I want to get rich thru properties, I will want to look for someone who have done it thru properties. So, in order for me to trust the advice of the financial advisor, he must show me that he has already achieve financial independence thru investing(not thru giving advice). That is totally different.
Who is right? Should I take The Money Guy’s advice or not …
… to help you decide, here is the link to his web-site:
Please show me the way by voting on the poll above and perhaps leaving a comment below …