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Are You Getting Good Advice?

By Andy Shaw | January 23, 2010

Originally posted 13th December 2006

Whilst reading Robert Kiyosaki’s book ‘Who Took My Money’, I was reminded of a point that is so important that I can hardly believe I have not covered it before in these articles.

In the book he asks the question, where do your financial advisors make most of their money from; they’re investments or their commissions selling you a product?

The training required to become a financial advisor is not that extensive, but when you have little or no financial education, just the title of ‘Financial Advisor’ is usually enough to get the uneducated to let go of their money, believe me I let go of some of mine.

When I receive advice now I always listen to it first and if it interests me I go and do my homework, some call it due diligence if you want the fancy name.

If I am listening to someone who has a proven track record in investing then I will pay their advice a lot more attention. I may subscribe to their newsletter or go and research the subject and then discuss it further with them before investing.

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Topics: Personal Development, Wealth Creation | Comments Off

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