A big misconception people have about investing is that they think they have to work with a financial advisor to be successful. But oftentimes, they don’t have your best interest in mind. Today, I discuss some of the common lies financial advisors tell that you should watch out for.
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Timestamps
00:00 – Intro
01:18 – Lie #1
02:23 – Timing the market
03:22 – Efficient Market Theory
04:19 – Lie #2
06:57 – Lie #3
09:34 – Lie #4
11:58 – Investing truths
12:19 – Question
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stock market basics, finance basics, how to invest, investing for beginners, stock market, investing myths .
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Lies Your Financial Advisors Tells You | Phil Town
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Lies Your Financial Advisors Tells You | Phil Town
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19 comments
Have you ever worked with a financial advisor? If so, does any of this advice sound familiar? Leave a comment below!
Learn how to find quality companies and successfully invest on your own! Download my 5-Step Checklist for picking stocks: https://bit.ly/3kZUTNE
I had financial advisor twenty years ago. Haven't had one since. It was one of my biggest mistakes in my life.
What the fuck? Waiting for something to go on sale is literally “timing the market.”
I think your suggestion is right, but my financial advisor also suggest they have information, like “insider information”, they have big machines, AI technology, analytical tools that individual investors like me probably don’t. Don’t you think that’s also worth considering about?
Yea but how do i invest i dont se option to send money xD
You are our financial advisor, even though you cannot say, we consider you one indirectly. You, Buffet, Peter Lynch, Sven Carlin, Howard Marks, Charlie Munger and many other reputable names on you tube.
Thank you, Phil.
Financial advisors, I respect them but I would not use their services, I'm pretty good by myself.
Every body is lying in America.
I had inherited my mother's stock portfolio. Right away I noticed there was way too many stocks the broker would only by 52 a hundred shares. It seemed very self-serving. I cashed in the portfolio when the pandemic hit and everything was shot down I invested the money right back in the market. I like your strategy investing in a down Market. Your information is very helpful
You camera is back focused…
Bad VID!!! just invest in Fidelity Zero Total Market Fund, set and forget.. keep it simple stupid, do not invest in individual stocks..
Truth buddy. Love it Phil. I’m outside of the financial industry. How about a small allocation in bitcoin if you’re young? Disruptive, against grain technology money.
Wow! Very good thoughts! This is good stuff. You have your feet on the ground!
Hi Phil , would love to hear what you think about robo advisers, like the ones offered by the big funds with lower fees.
You can't believe how I love your honesty
I have worked with a finacial advisor and last rport to me was he did 12% on my money I had with him . I have done some of my own trading folowing Phils rules . I have made beginner mistakes . But still I have been able to grow an investment by 30-35% as of this writing . I have also done option trading using phils strategies and I have done about 40% in 2020 . I have been trading now only around 2.5 years . Have gone and take phils courses and that is all the training I have done . Yes you to can do this . It isnt rocket science . Listen to phil and do what he says and you too can have some realy great returns
It's takes a lot to become a profitable trader but another alternative is to see the assistance and guidance of an expert to avoid loose of funds, then you will see how happy you will be.
Phil: Financial advisors are scammers.
Scammers in the comment section: you should let this guy manage your money, here's their whatsapp number.