Now is the right time to fire your investment advisor

livemint.com:

some of the smartest minds out there are advising caution, does this person/platform know something which no one else does? It’s possible. But unlikely. I believe moments of greed like this one can help you lay a foundation for creating an ecosystem which can help you succeed as an investor.

Use it. Select advisors who are poring over the numbers with their clients to ensure their asset allocation is in line with their needs and that they are not overexposed to the risky parts of the market. They are in fact redirecting monies to ensure long-term success.

Select platforms that are not chasing their clients to make them transact, but those which are nudging their clients to think so that they can make more meaningful investment decisions. Select brokers who go beyond the Sebi-mandated warning for dissuading their clients to trade in speculative segments of the market. These advisors/platforms are giving up income so that their clients can succeed in the long term.

What could be better proof than that? Find them! Some of you may notice that I did not mention anything about finfluencers. Well, most of what most finfluencers put out is anyway momentum-based and unproven. So, if you like a roller coaster ride when it’s possibly headed down, that’s your call.

You may decide to stick with them or exit their cohort, depending on your appetite for thrills. And I am not even venturing to discuss what to do if someone is pushing a ULIP on you. Forget deciding whether to invest or not, why are you even wasting time discussing the possibility? In conclusion, I would like to very emphatically state that there are many investment advisors out there who genuinely care for their customers.