Home » Why You Don't NEED a Financial Advisor | Phil Town financial advice

Why You Don't NEED a Financial Advisor | Phil Town financial advice



One of the most commonly held misconceptions in investing is the idea that you must work with a financial advisor in order to be successful.

However, the reality is that investors who manage their own money are often able to perform just as well or better than those who work with a financial advisor and without any high fees eating into their returns.

If you’re still on the fence about whether or not you actually need a financial advisor to be a successful investor, then this video is for you.

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36 thoughts on “Why You Don't NEED a Financial Advisor | Phil Town financial advice”

  1. I am a struggling single mother working a low paying job, I work hard and make sacrifices for my family but it would take me an exaggerated 600yrs to be able to retire at this rate and want to start investing in something small that may blow up but I have never got into stocks and don't want to throw my money on something just because its cheap stocks atm. Any advice?

  2. Here's the thing I don't understand, and maybe someone can help me. I have a significant amount of money in mutual fund RRSP's with a financial advisor. If I want to get rid of the advisor, how do I take control of the mutual funds?

  3. I always found it to be idiotic to PAY a fee to someone to handle my own assets. It’s not complicated, but all you need to do is research most mutual funds and ETF underlying holdings. Now pick the most stable blue chip winners going in the right direction for years. It’s not HARD as they make it out to be.

  4. Wish I had seen this 2 years ago. My financial advisor took me to the bank, just as you said. My initial 500K portfolio is worth not much more than when I started with them 7 years ago. Had I left that money in the original index funds, I'd have 1.2M. I'm sick.

  5. So we shouldn't use Financial Advisors and instead just buy into his "workshop" instead. Any licensing, credentials or registrations? Nope. Sounds legit. HA!

  6. I saved all my life. Sometimes I used “free” financial advisors; sometimes I did not. Regardless I did OK and amassed a comfortable nestegg. Later as I approach retirement, I figured it was time to get pro help. I went to an advisor who was a “friend.” She wanted 1% of MY money annually. She wanted 1% of my total portfolio that I spent twenty plus years amassing with no help from her. She wanted 1% regardless of her performance and with no guarantee and no fee reduction should her decisions do worse than the market. Where do I sign?!?! Long story short, I did not sign. I thanked her for her time and walked away. That was several years ago and I’m still doing just fine on my own.

  7. Just give me some good research, so if I want to buy individual stocks, I can make an educated decision. Same goes for looking for index funds, ETF'S, etc. Consider using cash secured put as a limit order you get paid for when buying stocks you like.

  8. Financial advisors been through 6 in 40 years. Stupid me! They made a good living off me. Advisors only sell you mutual funds and I'm sure they're was an added benefit to them not me,with the ones they chose. Why was it whenever I got a new advisor ,they always said no you should be in these funds not those the previous salesman had put me in.

  9. where do you learn on how to do it yourself? i'm expecting to get a big check within the next couple of months (6 figures) and don't even know how that money in hand get's to a market. do you put it in your bank account and link it to some software or something? if there's a video explaining from the very basic and beginning can someone point me in that direction, please.

  10. Very early in my life I had a roommate that was a financial advisor. He explained how his job worked. Pure sales commissions and account churning for fees. He always got his money. The client…not so much.

  11. The only financial advisor that I ever really valued was one who told me plainly after a one hour consultation: "You're not really wealthy enough to benefit from my services and fees (1% AUM), but you're not broke enough or uneducated enough to use the high street commissioned sales guys. Clearly you can do this yourself for the most part. Come back and see me when you're worth several million and don't feel like managing it any more."

    Yeah, I'm still working on that.

  12. Where would you park your money an order to wait to buy stocks at discount prices also would you wait to buy the S&P 500 when they drop a little instead of buying it when they High

  13. I am a financial advisor. The CFP, fiduciary, I work only for my clients kind. I did several things this week that had NOTHING to do with "investments, beating the market" etc. 1. I sat in on a call between my client, their adult kids and the estate planning attorney to review the updated estate planning docs. Value, YES! 2. I met with my high income, not yet high net worth Dr. client. We discussed ways to put money into Roths and save more cash. Value, YES! 3. I met with another client, a school district employee, we talked about recent identity theft targeting school employees, freezing credit, and small business solo 401k plans (for her self-employed husband) and the possibility of saving taxes on their NUA. Value, YES! Bonus? Sat on a Zoom call with another client and walked her through how to freeze credit and check credit report, live. A financial advisor's value is not only in the investment side of things. But…another thing I did this week? Sent a video to a client, who almost, without consulting me, went to cash in March 2020 walking them through my "market timers never win" investment philosophy. My video talks about why it is important to NOT time the market and stick with a plan. Make sure YOUR advisor does more than "investments".

  14. Thank you for the info. Now that I have more down time to look at my portfolio I realize how many fees I am paying. Even with the market crashing he was getting more money than I was. I realized every time I called him he was not even looking at my portfolio until he realized I was on the phone. Also you are right I have a cash reserve and he wants to lock into auto investment. Is there a penalty and big tax bill if I take it all out and reinvest on my own?

  15. I've been investing in individual companies and now I'm thinking if i still need my financial adviser… I'm 30 and have an adviser that costs 30 USD a month and giving to a mutual fund portfolio that's only $45 USD fortnight

  16. Is there such a creature as a trusted, or even a competent, financial advisor?! Working with a financial advisor makes as much sense as paying for those rip off resort fees in Las Vegas.

  17. I completely disagree. Vanguard actually posted a study/white paper concluding that working with an advisor earns you 4% more annually on average than investing on your own. You didn’t address when it’s right to do Roth conversion, estate planning, tax strategies, downside capture. It’s not just about what you make…it’s what you keep! Very misleading video.

  18. Public has no access to market insight and research which means they only pick investments based performance, return or Alpha maybe, but there is alot going on that only advisors can access.
    S&P 500 does not represent the US economy as majority of the companies in S&P 500 are tech companies. there are many companies not listed on S&P 500 and they are great.
    you should delete this video I guess

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