Reply to How do you know if a CFP’s portfolio recommendations are good?

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Reply to "How do you know if a CFP’s portfolio recommendations are good?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]80% of the time, index funds do better than financial advisors (see Jane  Bryant Quinn). Save your money. [/quote]

Perhaps index funds perform better than actively managed funds, but individual investors are a different story. Their emotions get in the way of their success. And a good planner can help you avoid making emotional decisions about your investments.

https://www.ifa.com/articles/dalbar_2016_qaib_investors_still_their_worst_enemy[/quote]

I don't need to pay a planner thousands to remind me to stay the course. [/quote]

DP.  Then don’t pay one. But given the stats that PP lined up, many investors do underperform because they make poor decisions and *could* benefit from someone telling them nothing more than to stay the course.

I’m in sales (not a CFP) so I know how hard these jobs are – and I’m always amazed at how much vitriol there is toward financial professionals.  If you don’t think you need their services, just don’t use them.[/quote]

They get lots of vitriol because they pump their services here and they do ridiculous things like refuse to compare their performance against any benchmark. Then they throw in some bullshit about how they can help you avoid "emotional decisions", while underperforming the benchmarks they refuse to compare themselves to. [/quote]

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