Wise to seek professional advice
Kenney Khew | 08 Jun 2018 00:30
Many investors complain and blame their investment professionals – unit trust consultants, share market brokers and remisiers – for losing monies on their investment portfolio during bad times.
There are several reasons for such behaviour:
• Investors tend to be emotional whenever the share market drops.
• Many investors are focused on short-term profit rather than on long-term financial goals such as retirement. planning, which may be another 30 years. Some of them are confused between speculation and investment.
• The investors want their investment consultants to be fortune tellers of the market and expect all their investment
portfolios to be making profit all the time.
My advice to investors is to engage a licensed financial planner (LFP) and pay financial planning fees. The LFP can provide you with a comprehensive financial plan tailor-made just for you rather than focus on product solutions only to fulfil your financial goals.
The reason is simple. You need an independent and experienced financial planner to guide you in your personal finances towards your goals in life. You may also want to implement the financial solutions with your LFP under such circumstances as the recommendation is based on your needs.
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