Monday, May 18, 2009
Does Your Adviser Make the Grade?
Until last fall, Pam Nintrup thought the financial adviser she had hired two and a half years before was doing a good job. He'd consolidated her and her husband's scattered accounts onto one statement and run computer scenarios to determine whether her goal of retirement by age 60 was achievable. It was, he said. He then suggested a stock-heavy mix of investments to help Nintrup, 57, meet that goal.
But with her portfolio down more than 40% since last December, Nintrup's early-retirement plans are out the window, and doubts about her counselor are mounting. Why wasn't her money invested more conservatively given her imminent retirement? Is the adviser's explanation -- that bonds didn't cushion the stock losses as well as anticipated -- good enough? Why should she stick with the same plan, as he recommends, when it has done so poorly?
Like Nintrup, millions of investors are questioning whether their own advisers have done the right thing...
CNBC: Does Your Adviser Make the Grade?
But with her portfolio down more than 40% since last December, Nintrup's early-retirement plans are out the window, and doubts about her counselor are mounting. Why wasn't her money invested more conservatively given her imminent retirement? Is the adviser's explanation -- that bonds didn't cushion the stock losses as well as anticipated -- good enough? Why should she stick with the same plan, as he recommends, when it has done so poorly?
Like Nintrup, millions of investors are questioning whether their own advisers have done the right thing...
CNBC: Does Your Adviser Make the Grade?
Permalink posted by markw @ 5:29 AM 
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