Human Financial Advisor Horror Stories about Portfolio Management

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Two weeks for nothing

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We are in the midst of looking elsewhere as we speak. Our guy is not untrustworthy. It’s just that when I ask for a simple projected income statement for post-retirement, he worked for two weeks on it and said he just couldn’t produce one. It seemed like a simple request.

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ISSUES:
Poor communication
Poor communication
Portfolio Management
Portfolio Management

How My Wife’s Financial Planner Mismanaged Her Investments for Years

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Sounds like my wife’s ex financial planner. I warned her after meeting him once before she gave him her money but she trusted him because her dad uses him (btw her dad has less than 1% of his net worth with this guy). Took me five years of doing yearly reviews with her to finally pull the money and put in index funds.

They put her in an annuity, impossible to liquidate private reits and my favorite was summer of 2020 after qe was in full force they put a third of her money in bonds. The underperformance was insane. Had it just been 10% worse than an index fund I’d be so happy.

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ISSUES:
Incorrect advice
Incorrect advice
Portfolio Management
Portfolio Management

My REIT Nightmare

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What's the dumbest piece of advice a financial adviser has given you? Put your money in this “safe” REIT…. lost half of it AND the fund was “frozen” when the banks did their nasty back in 2008; had to wait for 5 years to get even that back.

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ISSUES:
Incorrect advice
Incorrect advice
Portfolio Management
Portfolio Management

Giving Control of $100K and Earning Less Than Their Fees

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I once gave a major fund control of 100G for one year. I got a 2% return. They made more money in fees than I did in ROI. Meanwhile, the rest of my money invested in index funds earned 10%+ after fees.

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ISSUES:
High fees
High fees
Portfolio Management
Portfolio Management

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The Impact of Bad Financial Advice

Getting poor financial advice can have serious consequences, from financial loss to emotional distress. More and more investors are choosing to take matters into their own hands – and we're here to help.

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