Here’s a great question to ask your financial advisor: How much of their own cooking are they eating?
This is one of those pertinent and telling questions to help you suss out a solid financial advisor vs. a salesman-like advisor.
In this week’s video Brian and I help you figure out if you have a financial advisor who believes in and is passionate about what they offer. It could change the way you think about your advisor in a big way.
What we’ve been watching and reading:
America is truly an amazing place to live and invest: Jamie Dimon, CEO of JP Morgan, was interviewed by the Economic Club of Washington D.C. This entire interview is fantastic, but we really enjoyed from 10:20 to 13:30 as he discusses how great and how much potential the United States has. He also discusses the role of banking in the financial crisis. Some of this may surprise you. We appreciate Mr. Dimon’s honesty and believe he is one of the best CEOs we have seen in years.
Don’t trade on election results: Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, nails it in this video! She discusses how the election shouldn’t impact your investing at all. Rather, you should look for those areas of the market that are available at good prices which DOES NOT include dividend paying stocks which are among the most expensive area of the market. We agree with Mrs. Sonders on this one!
Malcom Gladwell explains why he’ll never be an active investor: The advice that Mr. Gladwell received from his Father is terrific advice for anyone. Gladwell says . . . “My father was the kind of person who would meet someone, size them up, and the instant he thought they knew even one percent more than him in a given area, he would defer.” We agree!