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Thats why no bank or business gets my email, nor my cell number.
If i have done, say, searching fir something or the like on the web, im careful about who gets my email and or home number. I can ignore the home phone easier with caller ID, and chose not to answer. ( my cell has caller ID too, but i rarely give it out).
If i have yo put that info in to get research info on something, i thoroughly evaluate whether the info is THAT important and that i cant get it elsewhere, before i put in that info. After a couple calls with no answer, they stop calling.
I quit any online banking and auto deductions a long tine ago.
One company was authorized for a MONTHLY billing to be removed from my checking, andinstead was billing WEEKLY. it was a utility company from California that sold electricity here in NY under the "choose ypur supplier ". I contacted them and alerted them when i got a mysterious 'overdrawn fee ' notice from my bank.i DONT overdraw.the bank told me i had a WEEKLY draft coming out, and that caused the overdrawn. The company answered my query with " well we have been hacked for billing WEEKLY insteadof monthly. 3 months later to Stop the continued drafts being removed i alerted them at both 2nd and 3rd month, they replied " wete working on it"... a major company cannot get an error corrected in 3 months??? So to stop further deductions i closed tye checking account and reopened a new one. The company then claimed they could not refund my money if i closed the account, i said send mea check, nope no can do they said. Needs to be credited back to the account overdrawn. I terminated services, as i had paid in 3 months more than a years worth of billing, and told them i was severing ties with them, and would alert the media here about their shady dealings. I said ' you got my money once, but youll never get it again". Expensive learning.
Another time with online banking, my acvounts were drained, andof course the bank claimed no responsibility, and offered no help in getting our money back. Never again. I went back to paper statements and writing paper checks.
And as many times as my credit cards have been compromised, i dont do THAT online either anymore.
Sometimes the old ways are better.
Never have had another problem since i went back to the ways.
Classic example of someone thinking they're too smart to need a banker's help. Had you just visited your branch and spoken to a banker about your billing issue they would have advised you that you can dispute any unauthorized debit card or ACH transactions within the past 60 days and get full credit back. Instead you closed your account and lost your money. Maybe if they had your phone number they could have reached out and called you in for an appointment and at the very least resolved your issue. But instead the lesson you somehow learned from this was to quit online banking and automatic deductions.
The value add is for people who have wealth but don't know how to manage money, or who are too busy with work or living their life that they prefer to pay someone to handle that responsibility for them. No different than knowing how to do an oil change on your car but still paying someone to do it every time. If you're more hands on with your finances than most, you will likely not see any value.
This is just not true and study and study would show investor behavior tends to be poor, often relying on emotion at the worst of times. This doesn’t account for ignorance in accumulation strategy, transfer strategy, spending down strategy or a host of other things that can be done better. You don’t know what you don’t know and sometimes even once you figure it out it’s too late.
I have a sizable Vanguard account that I manage myself. I have never received a call or even an email from Vanguard offering to manage it for me.
The only person who will put your financial interests first is YOU. I would never let anyone manage my financial affairs, especially someone who receives a commission for doing so. I do consult with a fee-only financial planner occasionally (maybe once every 5 years) if my financial picture changes substantially.
And I can't imagine why anyone would give Wells Fargo their money after the criminal way Wells Fargo has treated their customers.
It's all personal. I've been banking with WF for 10+ years and am very satisfied. I've had accounts at both BoA and 2 credit unions and been very unsatisfied.
But, I don't actually give WF any money. I use their services free of charge, which is the direct cause of my satisfaction.
This is just not true and study and study would show investor behavior tends to be poor, often relying on emotion at the worst of times. This doesn’t account for ignorance in accumulation strategy, transfer strategy, spending down strategy or a host of other things that can be done better. You don’t know what you don’t know and sometimes even once you figure it out it’s too late.
Another time with online banking, my acvounts were drained, andof course the bank claimed no responsibility, and offered no help in getting our money back. Never again. I went back to paper statements and writing paper checks.
Every time you write a paper check, you are giving your routing and account number to every single person who handles the check.
Nearly everyone says that and yet the practice doesn’t play out. Time and time again emotion catch people sooner or later, fear/greed over take whatever “little knowledge” one has and they end up making poor choices.
Nearly everyone says that and yet the practice doesn’t play out. Time and time again emotion catch people sooner or later, fear/greed over take whatever “little knowledge” one has and they end up making poor choices.
So most people are bad investors? Do you include institutional investors?
Nearly everyone says that and yet the practice doesn’t play out. Time and time again emotion catch people sooner or later, fear/greed over take whatever “little knowledge” one has and they end up making poor choices.
Right but how is an FA going to help with that? Wouldn't these emotional people just pick up the phone and tell their FA to sell sell sell?
So most people are bad investors? Do you include institutional investors?
Institutional Investors aren’t immune to bad decisions. With individuals its a much greater issue partially situated on two man issue imo 1. The pain of losing a dollar is much greater than the pleasures of making a dollar and 2. When things have gone relatively well for long periods of time like a decade or so people overestimate their ability and knowledge and vastly underestimate the risk they take on.
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