I am Firing My Financial Planner!

I’ve been with the same financial planner for 10 years. Although she’s an extremely nice lady, I haven’t been making any money on my investments with her company in the past year. What’s interesting is that I have been making more money on my other investments that I’ve been managing myself. So why pay someone to lose money for me. That just doesn’t make sense! Thank God I didn’t have all of my eggs in one basket.

I am to blame for loosing money because I haven’t been paying much attention to the investments that she has been managing. I learned a huge lesson here. Manage my own funds. Even if you hire a broker to manage your funds for you, You still need to constantly monitor your money. At the end of the day, it’s my money and I am responsible for what happens to it.

I am also firing my financial planner for a couple of other reasons. I haven’t heard from her in approximately two years. I’ve only received mass emails that she sends to all of her customers. Prior to the past two years, I use to hear from her at least two to three times a year. About 5 years ago I asked her if she knew any accountants because I needed some tax advice. After filing my taxes with this gentleman, I came to realize that he wasn’t someone I could trust. I called my financial planner to tell her my concerns with the accountant and she said she regretted referring me to him. That was fine, we all make mistakes. Of course that was the last time I used that accountant. Then there was a real estate lawyer she referred me too that wanted to charge me for the first five minute conversation we had. I didn’t even bother to tell my financial planner about that situation. At that point I knew I wouldn’t be doing business with any more of her referrals. She must have found out about that last situation because after that, I stopped hearing from her.

I just heard from her last week when I sent her an email telling her that I am leaving her company. I probably wouldn’t have heard from her for another two years. Lol!

I am really glad this is happening now when I am still fairly young and have lots of time to make some serious money on my investments. I would rather lose money because I am managing it on my own, rather than pay someone to lose it for me.


  1. Maria says:

    I really enjoy reading your blog and have been going through your past entries.

    Have you found a good financial planner? I've had no success in finding one that I can trust. Please advise if you're able to find a good one.


  2. Edward says:

    Erk… Umm… It's actually spelled "lose", not "loose". As in, "So why pay someone to lose money for me." (Should be a question mark at the end of that as well.)

    This sentence also needs fixin': "I would rather loose money because I am managing it on my own, rather than pay someone to loose it for me"

  3. Essay says:

    You just have made a great decision! At least, you have a lesson learned.

  4. Thats awful. At least you found out now while you still have time.

Leave a Reply

Your email address will not be published. Required fields are marked *

© 2012-2018 All Rights Reserved

Read previous post:
7 Habits of Highly Frugal People

7 Habits of Highly Frugal People: Want to change your finances? Change your habits. Here are tips that can make...