25 Jun 2025 4:04 pm
No, he's likely not a stock picker. He relies on a team of unknown, unheard from "portfolio analysts" to do that for him. He is a glorified salesman with enough knowledge about the lingo and environment he works in to convince others he can put the perfect portfolio of investments together to match your personality. Personally, I prefer to work with people that aren't ashamed of being actual "stock pickers".Fuelman » 25 Jun 2025, 3:47 pm » wrote: ↑ ?????
My financial advisor is not a stock picker. He manages a portfolio of all the usual suspects. Our risk tolerance and other financials help him determine where we need to be invested. i could be wrong but I think BV was alluding to managed accounts.
Wells Fargo Bank? That's not necessarily useful in the field of stock picking. Not that I don't have respect for good bankers, I do. A good banker can be worth his weight in silver - I never viewed bankers are people who screw anyone over. However, I'd be more impressed if he owned his own brokerage at Wells Fargo Advisors (Wells' Investment Advisors division which is separate from their Banking division, in essence stock pickers).Our Advisor spent 15 years at Wells Fargo Bank. He got burned out screwing people over verses helping them out so made a change. He's had his own Ed Jones office for ten years.
Its what they all try to sell you, just know that. I'm not giving you professional advice here; what you've got can work just fine. I assume the 70/30 split is between stocks and fixed income? You understand that risk really has nothing to do with your split between equity and bonds/bond funds. If your 30% was in Puerto Rican bonds that would throw you into a very high risk (just exited bankruptcy) portfolio. Most folks get this confused.I will humor you guys with my current portfolio targets.
Medium Risk (current split 69/31)
Balanced Toward Growth
Long term average 5.44%-7.69% (after fees)
Yearly Volatility -15% to +28%
it's not a get rich quick scheme!