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CHAPTER 12: Dealing with Professionals > Independent Financial Advisors

Independent Financial Advisors

When I first started in the financial business, I thought no-load fund investing would ultimately dominate load funds, because you can clearly come out way ahead by avoiding onerous sales charges. But I never expected the degree to which people now lack the confidence to do it themselves.

So, clearly there is a market for personal advice and service. Although you should never deal with a broker simply to get securities recommendations, there are advisors who give personal service, determine asset allocations, manage money on a discretionary basis, and provide continual oversight. In addition, financial planners advise on insurance, health care issues, estate and retirement planning, and tax issues, and offer risk assessments and tax advice. Mutual fund managers generally do none of these things for their shareholders.


  

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