MyMoney Online, Personal Finance with Warren Ingram

Is your investment advisor useless?

How do you know if your investment advisor is useless?

The Money Show presenter Bruce Whitfield interviewed Warren Ingram, Financial Advisor at Galileo Capital.

Ingram says that answers to the following questions should give you a good indication of whether your advisor is worth his salt:

  • Do you know what portion of your investments is allocated to shares, bonds, property and cash?

  • Do you have more than one type of fund from the same fund manager (e.g. a retirement annuity with a moderate fund and balanced fund both from, for example, Coronation)?

  • Do you know all the fees you are paying?

  • Do you have an idea of how much you could lose in a big stock market crash and, on the flip side, do you know what sort of long term growth to expect?

Scroll down to listen to the audio for more detail.

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