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James_Miller comments on A Guide to Rational Investing - Less Wrong Discussion

27 Post author: ColbyDavis 15 September 2014 02:36AM

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Comment author: James_Miller 15 September 2014 03:12:19AM 7 points [-]

If you are not rich nor an expert on financial markets how are you supposed to identify a good financial adviser? I would be very suspicious of any adviser who placed such a low value on his time that it was profitable for him to have me as a client.

Comment author: ColbyDavis 15 September 2014 03:44:15AM 8 points [-]

Part of my hope with this paper is that it would provide readers with the means of determining whether a financial professional is articulating a reasonable investment approach vs. the meaningless fluff that is typically touted if they are willing and able to engage an advisor. If you don't wish to use an advisor or don't have enough funds to make it worth one's time then going the Vanguard route is probably best.

DFA has a Find an Advisor feature which may be a good starting point for those looking for an advisor. Any advisor approved to use DFA funds will be familiar with the logic of efficient markets and factor premiums. Looking for a CFP or CFA designation is probably a good idea as well. Obviously I think I'm good and am happy to talk to people privately if they are interested.