3 March 2013

Do you buy the cat in the bag?

A short reference (New York Times) to the purported reluctance of a prominent private client advisory firm to disclose the performance record for its recommended portfolios is a stark reminder that all-too-often investors enter into advisory relationships without doing proper research. The often repeated joke that investors spend hours researching before buying a $500 washing machine but hand over millions on the basis of glossy brochures or fancy offices comes to mind. PBA advises investors to insist on inspecting the performance record of any financial advisor before handing over any investment monies.