Have you used a professional financial advisor?

[endalldisease]

Hello, has anyone here ever used a financial advisor (an individual or a company) and used their advice to put together a comprehensive retirement plan and wealth creation/management strategy?

 

[jalamb86]

@endalldisease Yes, my parents from an independent, reknown bank - they got bascially scammed. Don't do it, just follow the general advices: Save enough, invest in index funds or ETFs with a risk profile following your needs (risky fully equity if you don't plan to withdraw within the next decades, less risky with more cash if you need it soon).

Just do your homework yourself, anyone doing it for you is after your money, especially if they take a percentage fee.

 

[charismaticlady]

@endalldisease It is not very difficult to put together your portfolio.

The cheapest is to open an Interactive Brokers account and invest in VT (global stocks in an ETF) and Swiss Bonds.

The easiest would be to open an account with True Wealth (Swiss based robo advisor), their fees are relatively cheap and you get a decent portfolio. They also invest in VT and Swiss Bons plus other ETFs.

 

[ronnec1208]

@endalldisease Yes, there are wealth advisors rated in BILANZ.
you can do it yourself but if you are zero interested or your wealth situation is complicated and needs tax optimization financial advisors can help. For instance Lakefield is known but just see Bilanz rating and advisors/companies should be finma regulated.
DIY is first choice.

 

[nungirl_7]

@endalldisease No, we got a swisslife advisor instead and somehow regret it. I would have rather paid for a better service.

 

[stereodanny]

@endalldisease My father and my FIL went to VZ Vermögenzentrum. You have to pay, but they’re neutral (won’t advise some product over another because they get a better kickback). Both were happy and could retire early.