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Discussions on the economy and investment performance around the braaifires normally are very interesting considering the selective memories of investors. Easy to compare but what we all seem to miss is that every product differs in its compilation – benefits and portfolio so that it is extremely difficult to factually compare. I do not wish to go into all the differences and factors influencing growth on investment products as that would take simply too many columns.
Short to say that revisiting your often/normally uniquely structured portfolio is a must – you simply have to see your Financial Advisor more often as changes not only in the economy, financial markets, budget decisions, product structures, costs and options could impact your portfolio dramatically. BUT we all speculate and believe that all visits by the advisor “costs†money. Yes the advisor has a practice to run and all associated costs are escalating but all advisors appreciate their responsibility and irrespective does place the client first. Your goals do shift and if additional cover of investments are required to meet those needs then so much more the importance of a visit.
Optimising portfolio’s – risk for example may even save you money – companies are getting ever more effective and through competition rates are coming down while benefits, by definition, are expanding. Investment portfolio’s offers more options at less cost and at improved/expanded guarantees
So my call to you is to stop comparing and speculating but to live closer to your Financial Advisor as he/she carries ever increasing responsibilities (accountabilities) but so do you!
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