Finding suitable fund managers or a financial advisor

[Frankieplus]

Hello everyone,

I am looking to find a good fund manager or a good financial advisor who could then advise me on which fund manager to use.

The information on the web is overwhelming and I don't know enough about this subject to make an educated decision.

All I know is I want to let a fund manager manage my money , I just need to find one.


-Frank

 

[Value Collector]

Hi Frank,

I am sorry to say, But I believe you are approaching this problem from the wrong angle.

In my very honest opinion, There are only two options in most cases.

1, putting your funds into while of market type index funds, in which your are taking an ownership interest across the entire national/global economy, and accepting the market average return.

2, dedicate yourself to a life time of learning and become an investor and attempt to beat the market average returns by making good choices and deploying your capital yourself.

———————-

A few months back I caught an Uber to take me to the Tesla dealership to pick up my new car.

The Uber Driver was a 68 year Old Ex Suncorp “Financial Advisor” complaining that he had to drive uber in his “retirement” to make ends meet, who seemed perplexed as how I could live off my investments at 37 years old.

So I don’t have any faith in the “find a good advisor” approach.

The whole “I need to find some one to tell me how to make money” approach seems highly flawed, and open to all sorts of cons.

min reality you either just need to take a position in the market and hold it for the long term, or try to beat the market yourself

 

[sptrawler]

Hello everyone,

I am looking to find a good fund manager or a good financial advisor who could then advise me on which fund manager to use.

The information on the web is overwhelming and I don't know enough about this subject to make an educated decision.

All I know is I want to let a fund manager manage my money , I just need to find one.


-Frank

Hi Frank, I think Value Collector summed it up perfectly, you are better off using a low cost LIC's and ETF's, if you don't want to manage your funds yourself.
Even using LIC's and ETF's it still takes research, to find those that offer exactly what you want.
.

 

[So_Cynical]

Hi Frank, spread your money across 10 LIC"s - ETF's a certain level of safety can be achieved doing this.

https://www.asx.com.au/products/managed-funds.htm

 

[tech/a]

I agree 110% with V/H and add that Most F/A's are trying to get to the financial position the majority of their clients are in or working toward.
The ones that made the $$s and seeking advice I can just about guarantee didn't make their money from F/A advice.

I often see the adage---making Good or Wise Choices or Decisions.
Truth is you don't know if any decision is good or wise until you live it.

The best things I learnt in my time are
(1) Learn all you can on Risk mitigation.
(2) Take part in every opportunity you perceive as an opportunity.
(3) Get used to being wrong.
(4) When you are revert back to (1) and (2)

Enjoy your Tesla V/H cant shut Radge up about his!

 

[Frankieplus]

Hi Frank,

I am sorry to say, But I believe you are approaching this problem from the wrong angle.
In my very honest opinion, There are only two options in most cases.

I work in a creative industry, finance and economics has never been my thing. But due to an inheritance I received 2 years ago I had to 'make' it my thing and try to learn to invest. I need to invest so that I can start to plan my retirement,

But in regards to your post, I am slowly starting to realise that you are 100% right. I wish this wasn't the case because it would be just easy for me to hand my money to someone and say 'Here make some money for me' but it's not going to happen, oh well.

1, putting your funds into while of market type index funds, in which your are taking an ownership interest across the entire national/global economy, and accepting the market average return.

So by this you mean something like investing in VAS and VGS right? That type of thing, just indexes right?

2, dedicate yourself to a life time of learning and become an investor and attempt to beat the market average returns by making good choices and deploying your capital yourself.

This isn't an option for me at all..

min reality you either just need to take a position in the market and hold it for the long term, or try to beat the market yourself

Since I have no way of beating the market myself, seems like just diving in and holding position would be best option.. Only thing now is what do I buy.. LIC's and ETF's it seems..


-Frank

 

[tech/a]

You only need one or two Frank.

My Son invested in Tesla at $200.
Funny we should be talking about Tesla's!
Now over $550 had only 120 but its a start!

 

[Value Collector]

I work in a creative industry, finance and economics has never been my thing. But due to an inheritance I received 2 years ago I had to 'make' it my thing and try to learn to invest. I need to invest so that I can start to plan my retirement,

But in regards to your post, I am slowly starting to realise that you are 100% right. I wish this wasn't the case because it would be just easy for me to hand my money to someone and say 'Here make some money for me' but it's not going to happen, oh well.



So by this you mean something like investing in VAS and VGS right? That type of thing, just indexes right?



This isn't an option for me at all..



Since I have no way of beating the market myself, seems like just diving in and holding position would be best option.. Only thing now is what do I buy.. LIC's and ETF's it seems..


-Frank

Hi Frank,

I just got back from spending the day at Disney’s Typhoon Lagoon water park, So I totally respect people in creative fields, I am not artistic at all, but my life is made better by the artists and creatives out there.

What I meant to say in my post riddled with misspellings was that I believe it’s best to own I broad cross section of the global economy.

Eg, owning a cross section of Australia through something like IOZ, and then taking similar holdings in the world index etc.

Doing this is guaranteed to get you the market average return, which over time should be decent, and take almost no work.

then if you want to take some funds under your own control and try and beat this market average with a portion of your funds, you can slowly increase your holdings outside your index’s as you go along.

 

[Ramono]

Hello Frank .
Welcome to the menagerie !


IMVHO , one should stick to the advice suggested by selecting a group of Lics and ETFs at about 50 / 50 in proportional allotment .
Further division of the whole in equal parts l would suggest ; that is if 100 K is to be considered , then
5 Lics at 10 k per Lic and 5 ETFs similarly invested .

l make this suggestion because had l used the same tactic yonks ago , pre-GFC etc , and held passively through thick and thin , l would now be much much better off than my current situation [ ok though it is] . AND , l would not have had to work so hard to make a living at trading in general !!!

Best wishes , Ramon .