Planner & investment returns
Terry, I like reading your columns as they are very interesting and informative. I have searched for a planner in the past with these questions. Can you guarantee me 10% per year with my investments that I entrust to you? If so your fee will be anything you make over that amount. But if you do not make 10% you will have to make up the difference to me. I have yet to have a planner take my proposition so I have resigned to taking charge of my finances. I guess i don’t take much stock in the word fiduciary. Do you know of any planners that would take my deal? Thanks, Steve (I have done between 9.5 and 10% by myself for the last 15 years)
Terry Says
No, I don’t know of any planner who would make that guarantee and take that deal. You have just lived through a tremendous bull market. Remember, past performance is no guarantee of future results. Even using YOURSELF as a planner. In fact, your naivete about future return possibilities leads me to believe that you REALLY need a fiduciary planner!
