> Saying that you shouldn't hire a professional to create a suitable strategy for you and maintain your wealth doesn't sound right.
Is a strawman, I didn't say that you shouldn't hire someone to create a suitable strategy, I said 'Definitely don't put it in the hands of third parties', in other words, maintain control of your funds at all times.
Advise is fine, but a third party managing your funds for you in a 'hands off' mode is most likely not. It's your money, when it gets moved you should be the one to make the call, not some broker. Their interests are not aligned with yours.
Advisors use brokerage accounts at places like Schwab, which give both you and the advisor access to the account.
And brokers are not investment advisors. They are in the business of selling stuff to you. So if you are saying don't give money to brokers to manage then I agree :). When you hire an advisor you agree on a strategy beforehand and the advisor makes trades to keep certain averages in your account. This industry is pretty regulated and advisors know they are liable if they divert from an agreed-upon strategy.
> Saying that you shouldn't hire a professional to create a suitable strategy for you and maintain your wealth doesn't sound right.
Is a strawman, I didn't say that you shouldn't hire someone to create a suitable strategy, I said 'Definitely don't put it in the hands of third parties', in other words, maintain control of your funds at all times.
Advise is fine, but a third party managing your funds for you in a 'hands off' mode is most likely not. It's your money, when it gets moved you should be the one to make the call, not some broker. Their interests are not aligned with yours.