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Reply to "How do you know if a CFP’s portfolio recommendations are good?"
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[quote=Anonymous]A CFP is frequently focused on getting you to a financial goal with the least amount of risk. That is very different from gunning for maximum total return. Since the objectives are totally different, it doesn’t make sense to compare the two. For example, if your goal is to send your kid to college a year from now and you have the necessary funds, the appropriate financial investment may be a money market or short duration bond fund. Those options may return very little compared to FANG stocks, but the financial goal doesn’t require FANG-like returns and the volatility of such an investment is unwarranted. Basically, a CFP is investing for a goal. You can’t compare that to a rando maximum total return strategy. [/quote]
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