Monday, 31 January 2011
Avoid Bad Financial Advice - go DIY! (UK)
You really can't trust anyone else with your money - particularly if they stand to make money out of your decisions!
A recent article on This Is Money (which I recommend that you add to your daily reading list) pointed out shameful examples of well-known financial institutions failing their customers. It noted that:
One reason for buying these collective investments is to reduce the risks inherent in buying single shares yourself. However, under the DIY Income Investor approach uses diversification to produce a degree of risk reduction by yourself.
I am not a financial advisor and the information provided does not constitute financial advice. You should always do your own research on top of what you learn here to ensure that it's right for your specific circumstances.