Are Financial Advisors a WASTE of Money?

Are financial advisors are waste of money? Today we discuss whether or not financial advisory fees are worth the price.

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.

[tylerowens]

I think you are being very honest and transparent and commend you for doing so. I enjoy learning about investing and taking control of my own finances. I honestly believe I would not be where I am today had I used a financial advisor because they could never have advised me to purchase my first rental property for $6K in a terrible condition. From that, in 12 years, I've grown to 8 investment properties and $500K+ net worth. I've enjoyed learning about what investments are, and how they work. But like you said, some people would rather someone else do it for them. Same reason why I hire roofers.

[michaelmilford]

Also I’d argue most people who handle their own investments make a lot of bad investments lol and follow emotion when the market is red

[wenmacfp]

Really really appreciate your honesty and diligence, Josh!

[brianbarajas]

Hello! Love your videos! Quick heads up, double check the title of the vid!

[martinjjt]

Hey Josh, great videos! Could I not argue that most mutual funds have a MER of between 2-2.5% (advisor + management) vs doing it yourself with index funds would cost you maybe 0.03% (VOO)? I'm actually thinking of becoming a financial advisor but trying to build arguments against paying for one just to have a better inderstanding. Thanks!!