What Financial Advisors DON'T Tell You About Being a Financial Advisor
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Josh Olfert is a professional CFP wealth advisor and the Founder of Haven Wealth based in Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal finance to the world, in an effort to improve financial literacy and help advisors and their clients achieve their financial goals.
All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.
Haven Wealth Management: https://www.havenwealthmgmt.com/
Josh Olfert is a professional CFP financial advisor and the Founder of Haven Wealth Management investment fund based out of Winnipeg Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal investing to the world, in an effort to improve financial literacy and help everyone achieve their financial goals.
All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.
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Thank you. What are the type of incentives that would hurt us in our clients?
If FA were paid a percent of their clients earnings and penalized the same percentage of their losses.... clients would all be in index funds.... just like their FA secretly are. God bless Jack Bogle... the only honest FA to ever live.
Very helpful explanation. I never realized how simple this topic could be when explained this way. Subscribed for more content like this!
Great video, and fantastic head of hair. I’m bald, so i’m super jealous.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Really appreciate your insights! That was very helpful to learn.
Just wasted 7 mins of my time to hear no advice , just nonsense about running a business.
My guy , I’m a 23 year old man tryna figure out if this is my industry .. which everyone tells me it is so I’m trying to understand it
Please lay out a better video next time
man, career pivots can be wild, right? i remember when i was stuck in a loop trying to crack case interviews on my own, failing miserably. then i stumbled upon The Thinksters. they showed me how to structure my thoughts and tackle cases like a pro. i wasnt just memorizing—i was learning to think strategically. their insights were gold! eventually, i landed at BCG! back then, they offered free sessions, but im not sure about now. feeling grateful i took the plunge!
Great video
This is great information. Really helpful for those starting out
“Talk is cheap.” Yup. 👍
Thank you for making this video. It was what I needed to hear. I don’t know what I’m doing, but financial advisory is my dream.
This is great, thank you! 🎉💕
Firms are different and advisors are even more so. The only thing that matters is bringing in new money, alot of it. $100m would be a solid start. Advisor who can't do this tend to charge huge hidden fees to make up. Also, lets not forget that federal regulation has ruined this career. I hope it changes, but its gone from fun to put a gun in my mouth. Your compliance office has come to run the business, esp at largest firms. Youll spend most of your day documenting conversations, decisions, and dealing with meaningless tasks. Complaince holds these firms captive. Its a huge revenue source for the government. You could make 50% a year for you clients and guide them to their best life, but toull never be thanked, it will never be enough, and you probably get fired by compliance for using the wrong adverb in a meeting note. Enjoy!
39 years old , becoming a. advisor this I a career change hope iam not too old
I tell you real secret guys 😂 real cool financial adviser it’s guys who can open hedge fund and make money on exchange if we are saying about advisor on exchange , who can make money and usually they don’t work with mass market. And real great manager always can show result profit for couple years statistics result from trades. So when you next time will choose real professional check statistics on exchange. 😉
I am retiring next yr at 57 with steady income stream from my $4 Million dividend portfolio total $650,000 a yr to live comfortably, and its all because of my Fee only Advisor who handles activities in my Portfolio. I also have no debts. Stay Motivated!!🌹✅
What you said is why I only invest in passive index funds, 90% of advisors don't outperform the market. As Jack Bogle once said, "Nobody knows nothing."
This was actually the most useless information I’ve ever watched
Love the video man. I currently work in traditional finance with my CFA & CAIA and am looking to transition to WM pretty soon. Very helpful!
I appreciate your insight on the financial advisor “lifestyle”. You are helping me more then you know!
Amazing video,A friend of mine referred me to a Cynthia D financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months , my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
only 6 years as an FA and you're hiring staff and scaling up?
People who invest in the market expect positive results from a professional investment advisor. Sadly, most professional investment advisors typically give investors a rate of return of between 3 and 4 percent annually. Investors have a fiduciary responsibility to the investor, not the firm. So when you explained about the incentives for moving people into certain investments that make the firm money it proves my point about financial advisors not being fiduciary responsible to the investor. My biggest reason for learning about investing and doing my own. Over 13 years of investing on my own I have produced a 9% annual rate of return compared to PNC who has managed a trust of mine for 35 years giving me a 3% ROI.
The only way I would ever consider a financial advisor is if they were paid on results of the profit. No advisor should ever charge a client a dime if they are earning less than 5% percent. You can put your money in the bank and get 5% without an advisor.
Thanks for sharing
I think one of the reasons the brain does this is because it’s rewarding to solve problems. Men are like this. We all have endless problems. But I mean, why not start prioritizing other problems if your finances are no longer a concern. Nobody gets to a point in life where they are like: I’m done, don’t need to do anything in life anymore.
That’s depressing in and of itself. We all have endless problems but mindset is important as well. It’s important not to inflate your problems so that they start weighing you down.
I see a need and a financial solution with a great idea world wide
The great Josh Ofert simply disappeared. I wish he woul show up and let us know his whereabouts!!
Thank you for your honesty
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Love your videos Josh. I’m enrolling in ChFC course and consuming your channel.
My wife is a financial advisor and she is always stressed out, it's hurting our marriage
Way to highlight the Starbucks in the intro.
Never take advice from someone with their hand in your wallet! Vanguard advisory service .30%
Nailed it
Great video. Im considering it.
Great video!
Currently in the phase where u realize there are other problems
It's all about the balance between helping clients achieve their financial goals and managing the nitty-gritty aspects of the job. The juggling act can be real! I appreciate your honesty and transparency. Keep the awesome content coming!
You make good points. I am about 10 years into the business and feeling like, now what? More of something I already have? It becomes a pursuit of additional designations, structure, efficiency...the list goes on. But these are the "fun" problems I don't mind having.
Interesting