Using A Financial Advisors Is It A Wise Move?

[thelostgypsy]

Hello everyone,

If I use a financial advisers to manage my investment portfolios is this a good move? I recently have interest to start investing. Currently I only have my DC plan from my company and I want to start investing to other markets but I am very confused and don't know where to begin.

Can anyone recommend a good company in Tokyo that I can talk with? I have seen https://argentumwealth.com/ anyone here had experience using this company?

What are your views about this?

Thank you in advance

[fools_gold]

I haven't had any dealings with them personally, but a forum user recently posted his experiences on another thread:viewtopic.php?f=16&t=811

Basically they offer high fee products from which they get a juicy commission. It's not a scam, but they're working for their interests, not yours.

You can save a lot of money by reading some books and forums about investing and then opening a NISA account. It can be a bit daunting at first but you soon get used to it.

[RetireJapan]

I think most people just need to read a book or two, ask some questions here, and do it themselves. They'll get better results and pay less in fees.

I don't know of any fee only financial advisors, so you're basically left with the salesmen and their dodgy offshore products. Better than nothing but much worse than doing it effectively.

[captainspoke]

By the time you're knowledgeable enough to evaluate whether or not a financial advisor is any good or not (is offering anything of value),

...you'll be knowledgeable enough to manage your investments yourself.

[adamu]

1. Welcome
2. Read Millionaire Expat: How To Build Wealth Living Overseas by Andrew Hallam
3. Disregard the stuff about Singapore (if it's still there, I read the first edition so it may have changed) and come back here and learn about NISA, iDeCo, Japanese brokers and other Japan-specific stuff.

[Kanto]

1. Welcome
2. Read Millionaire Expat: How To Build Wealth Living Overseas by Andrew Hallam
3. Disregard the stuff about Singapore (if it's still there, I read the first edition so it may have changed) and come back here and learn about NISA, iDeCo, Japanese brokers and other Japan-specific stuff.

Alternatively.

I would recommend this resource:

1. Learn the Boglehead Method

https://www.bogleheads.org/wiki/Boglehe ... _investors

2. Then read through Ben`s guide

a. IDeco https://gumroad.com/l/rSGsF
b. Nisa https://gum.co/sLEXJ

Or comb through the blog and forum for the relevant info.

[N00bster]

If I use a financial advisers to manage my investment portfolios is this a good move?

No, a thousand times no. Good thing you asked here.

https://www.japantimes.co.jp/community/ ... deception/

[captainspoke]

...
https://www.japantimes.co.jp/community/ ... deception/

An excellent summary--and a new word from it: "mountebank". (the perfect word, in this case)

[thelostgypsy]

Thank you everyone for the insights. I have an existing DC plan from my company and I am planning to match the amount. Meanwhile, if financial advisors are not a wise move then I will probably have to open NISA account but it looks complicated to me. I hope there is a group here dedicated for NISA Beginners.

[N00bster]

Thank you everyone for the insights. I have an existing DC plan from my company and I am planning to match the amount.

That's probably a good thing to do.

Meanwhile, if financial advisors are not a wise move then I will probably have to open NISA account but it looks complicated to me. I hope there is a group here dedicated for NISA Beginners.

It's right here . Opening a NISA is not more complicated than opening shady plans with financial advisors, and definitely worth the time.