Published on 27 May 2024 on GOBankingRates via Yahoo Finance
Kerkez / Getty Images/iStockphoto
Human investment advisors can cost a small fortune — and not even deliver on returns.
“Last year, I hired a financial advisor to manage most of my money so I could take a hands-off approach and focus on my business,” explained Andrew Helling, real estate investor and founder of HellingHomes.com. “While I selected an ‘aggressive’ portfolio strategy, he ended up investing the entire portfolio in bonds, earning me a 5% return last year versus the S&P’s roughly 25% return. Shocked at my low returns, I asked the advisor why he put the entire portfolio into bonds and he replied that he was scared of losing me money. I now manage my own portfolio.”