This guide, written by David Jackson, previously at Morgan Stanley, and now managing money plus the creature of Seeking Alpha, says this in the introduction to his guide:
A significant part of this guide is devoted to investing for the wealthy. The brokerage industry seems to suggest that investing is a complex, specialized, time-consuming activity, and since most people aren't up to it they should hire a broker or financial advisor if they can afford to do so. But there are three mistakes with this viewpoint:
- Brokers and financial advisors' interests are not always aligned with their clients', and the investments they select and the fees they charge can have a significant negative impact on a client's portfolio returns. If you're using a broker, you should read The 4 Criteria for Picking a Brokerage carefully.
- The cost of investment advice is often much higher than many people realize. The analysis here of asset-based fees and separate accounts should be read by every wealthy investor.
- Sound investing is not overly complex or time consuming. This guide translates widely accepted financial principles into straightforward, practical advice by showing that you can build and manage a diversified and sophisticated investment portfolio with ease. It outlines a clear framework for asset allocation, recommends which brokerage to use, suggests a portfolio, and shows you precisely how to rebalance the portfolio while minimizing taxes."
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