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Did anybody have a financial advisor who got you out of the market before it crashed?

Wondering if such a person exists, and if so, how to make contact!  My sense is that anybody who makes their living as a financial advisor is so dependent on the market that even if they saw trouble coming, they’d still be cheering us on…but I don’t want to be that cynical.  Prove me wrong!!!!

Posted in work & money.

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2 Responses

  1. Carol Orsborn Carol Orsborn says

    Sounds good.  Thanks for sharing.  We did something similar, but I had to drive the switch and argue against their passionate advice to stay the course!  And the thing is, I really like these guys personally which makes it even harder to listen to your own gut.  Thank God we did, but it didn’t have to be so difficult. (esp. since we proved to be right.)  I like Ameriprise’s ads, by the way.

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  2. Fern Fern says

    A good Financial Advisor would have kept you in the market and explain to you that because your portfolio was diversified and targeted to meet your specific goals, that you lost a lot less than the overall market.

    Any Advisor who got you out –cost you tons of money. You locked in losses and he puts you into another investment which costs you money. So you not only have massive losses but massive fees to him.

    Stay the course. This will blow over like any other recession. Your portfolio should reflect the return you need to meet your goals and your personal risk tolerance— not what the economy is doing right now.

    -Fern Alix LaRocca CFP EA http://www.wholeheartedway.com

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