When To Fire Your Finacial Advisor

Hello my follower!

Today we are going to talk about your Personal Financial Advisors.  You are a customer of your financial advisor.  Not only that you make him lots of money.  And each payday he takes money you have help make home in the form of a paycheck.  So who is the boss here?  You are!  Your financial advisor should have the attitude that he works for you (which he does) and be there for you when you need him.  If he does not understand this concept it is time for him to be fired by you...especially if he is losing you money.

Yesterday, was the big opening of the IPO, ALIBABA GROUP HOLDING LTD (BABA).  This is the biggest thing since Google!  I sincerely hope you got some yesterday to add to your portfolio.  I was trying all day to get a hold of my financial advisor to make a trade as I was having some trouble with the Chase Bank on line service.  No Call, No Show by financial advisor.  He takes and has some lady call me after market close...which of course is way too late.  Guess who got fired yesterday (9-19-2014) after losing me thousands of dollars.  You guessed it, my financial advisor of three years.  I have had this issue with him before and we talked about it.  I gave him one more chance and he failed me again.  Sorry, but you're fired when you keep loose me thousands of dollars when I need your services.

As it happened I have 2 other firms working for me.  I was able to make a couple of nice trades myself on my Scottrade account where I have more money invested, but that has nothing to do with my financial advisor at Chase Bank.  Sorry, but he just lost an account of over $1 million yesterday.  That's why your financial advisor should be working hard to keep your business.  It will not take too many accounts like mine and you know he will be sent out to pasture(unemployment line). 

So what do I do now?  There is not much that can be done.  His boss is going to call me Monday.  However, unless they plan on filling my pockets with all the money they lost for me I will no longer be their customer and transfer all 4 of my accounts with them.  Their loss.

If you have a situation ever occur that your financial advisor is not following your instructions or is losing you money.  I adamantly advise you to find a new firm and advisor.

Gus S.



Disclaimer: Make sure to review any information found on this blog site with your personal financial advisor before making any decisions. I am providing general information and not financial advise. I am not a licensed stockbroker or financial advisor.