View Full Version : Your financial adviser may well be a bandit!
johnjonesnine
21st Jun 2016, 10:37
Great article from the Financial Times - and as relevant to non-Brits as to Brits:
British expats, your financial adviser may well be a bandit - FT.com (http://www.ft.com/cms/s/0/3d0178ee-fa4b-11e5-b3f6-11d5706b613b.html#axzz4CCzHPxPm)
skysod
27th Jun 2016, 11:11
I've yet to meet a Financial Advisor or fund manager who is willing to base their commission/charges on profits made rather than on the capital sum invested, so to my mind they have no faith in there own judgement. They always expect YOU to take ALL the risk, and THEM to be only ones guaranteed to make a profit!
Steer well clear of the lot of them is my advice!!
jolihokistix
27th Jun 2016, 14:50
Been there, done that. One bad apple.
johnjonesnine
27th Jun 2016, 19:32
I agree with you skysod, and I'm sorry that you had to learn the hard way jolihokistix.
The sad truth is that pilots are considered to be easy marks for "financial advisers". I hasten to add that its not because you are any more gullible than the rest of the population, its just that in the Middle East you are earning good money and your job security is better that most, leaving you with disposable income available to put into a regular savings product.