The problem with "professional" advisors is that they work for themselves, and only benefit you if it also benefits them.

One example might be the insurance-industry-trained "Certified Financial Advisor" who realizes that if he persuades you to change your fixed price annuity, i.e. an instrument that you pay for in advance, and which purportedly appreciates over time, irrespective of market conditions, and purchase, instead, a "universal life insurance" policy, which appreciates only if the market interest rates exceed a certain threshold. In the latter case, the "advisor" gets a fixed portion of the premium, whether it's paid out of the appreciation or out of your equity, then HE benefits, rather than letting YOU have all the benefit. He is, therefore, a parasite on your policy, and gets his premium whether your equity is increasing or decreasing. That, of course, is only one example, but it did, at one time, cost me, my brother, and my mother about $1200 per month, each, simply because the guy lied to us about the nature of the instrument. When asked pointed questions about it, he completely distorted the facts. At one point, when I asked, "From what revenue stream do you derive your income?", he failed to answer, spouting some of what was clearly "mumbo-jumbo,' wherupon I withdrew all my investments from his control, and advised my brother and mother to do the same.

I've gotten similar information from others who've dealt with "advisors," brokers, etc. Even bankers are not to be trusted with more than a week's pay. At today's return rates, it's safer to put your money under your mattress.

Bankers, investment advisors, insurance people, and politicians (not necessarily the government of which they're a part) are equally corrupt. None of them work for you. All of them work for themselves. If you benefit from their action, you're fortunate. If not, you get what you deserve.

RE