Five signs your financial manager is not working in your best interest

Andrew Allentuck was kind enough to quote me in his piece Five signs your financial manager is not working in your best interest:

2. Your broker cannot explain why he or she wants you to be in a certain asset. Then you should seek someone who can make sense. “You have to be able to understand how an asset fits into your overall plan,” says James Hymas, President of Hymas Investment Management Inc. a Toronto-based specialist in preferred share investing. Just picking up stocks when they are cheap is no way to build a portfolio with a purpose, he adds.

I facetiously suggested that sign #1 should be: ‘He’s breathing!’

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