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Does a financial advisor exist who is neutral, unbiased?

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Bouncy Ball Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-07-05 06:55 PM
Original message
Does a financial advisor exist who is neutral, unbiased?
Who isn't trying to sell you their company's product?

I really need to see one, but I'm always wary of them, because I know they are just selling their products and in that sense, I don't think they're always looking out for your best interests.

:shrug:
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Worst Username Ever Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-07-05 06:59 PM
Response to Original message
1. No
Edited on Mon Mar-07-05 06:59 PM by Worst Username Ever
Not anymore than there is an unbiased car salesman or ubiased insurance agent (assuming that they work for a fee, like a financial advisor). They are there to make money.

On the bright side, they are aware that if they set you up with a crappy plan, they will lose your business. So it is in there interest for your portfolio to do well.
:hi:
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fit4life Donating Member (561 posts) Send PM | Profile | Ignore Mon Mar-07-05 07:02 PM
Response to Original message
2. What do you need to know?
I don't know a damned thing about it, but I have lots of contacts in that area who are very well-served by keeping me happy. Let me know what your situation is and I can probably get you some unbiased answers tomorrow.
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no name no slogan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-07-05 07:03 PM
Response to Original message
3. Yes, but you have to pay for them
If you truly want one that will act in your best interest, you'll have to pay them a fee for their services. Remember, that's their job, and they have to get paid for something.

I wouldn't trust the ones that offer "free" advice. Typically, they're either brokers or insurance salespeople who want to sell you their 'product', whether its a mutual fund, life insurance, annuity or otherwise.

I used to work in the financial services industry as a Registered Representative (Series 7), dealing with stocks, bonds, and mutual funds, so I have some experience with this.
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