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Christoph Franck
08/21/12 01:39
Modified:
  08/21/12 01:40

Read: 481 times
Sindelfingen
Germany


 
#188103 - Paying for professionals.
Responding to: Richard Erlacher's previous message
Richard Erlacher said:
The problem with "professional" advisors is that they work for themselves, and only benefit you if it also benefits them.


This is true if you're not paying those professionals. Finding out how the professional is paid for, if you're not the one explicitly paying for their service, can be quite enlightening.

Of course, most people don't want to spend money on someone managing their finances, but end up paying anyway (for the poor decisions made by someone who's paid for by someone else), and sometimes much more than they would have otherwise.

Richard Erlacher said:
When asked pointed questions about it, he completely distorted the facts. At one point, when I asked, "From what revenue stream do you derive your income?",


Precisely.

A "professional" most likely isn't working with (only) your benefit in mind if you're not the one paying for their services.

And if you do pay for these services, the contract should forbid accepting money from anyone else. Of course, that won't stop them if they're truly corrupt, but at least then you'll have a sound base for a lawsuit. An explicit breach of contract provides fairly good ammo for a lawyer.

List of 30 messages in thread
TopicAuthorDate
Salary System      Arif Deshmukh      08/10/12 23:08      
   "System"?      Andy Neil      08/11/12 08:04      
      Govt. System      Arif Deshmukh      08/12/12 00:00      
         Perhaps it's just another "bump in the road" for India      Richard Erlacher      08/12/12 07:54      
            Here is another bump      Arif Deshmukh      08/13/12 04:19      
         In The U.S.      Neil Kurzman      08/14/12 18:25      
   yeah well.      Jez Smith      08/14/12 02:18      
      Oh! Means I Am Lucky      Arif Deshmukh      08/14/12 04:37      
         Also        Jez Smith      08/14/12 10:10      
            We don't do it willingly ...       Richard Erlacher      08/14/12 11:26      
               Very Strict In India      Arif Deshmukh      08/15/12 01:09      
            yep      Andy Peters      08/17/12 15:30      
      You Make it sound like a bad thing.      Neil Kurzman      08/14/12 18:32      
         Cube covering      Rob Klein      08/15/12 03:52      
            I don't remember even one "cubie" that wasn't padded      Richard Erlacher      08/15/12 18:07      
            No Padding      Neil Kurzman      08/16/12 13:40      
      Not if your company follows this advice      Andy Neil      08/23/12 12:28      
         male cow manure      Erik Malund      08/23/12 12:38      
            wow      Neil Kurzman      08/23/12 20:57      
   New Zealand working conditions      Bert Van Den Berg      08/17/12 12:40      
      Here in the U.S.      Richard Erlacher      08/17/12 13:37      
         No Pension      Arif Deshmukh      08/19/12 22:03      
            Well ... there are those who believe ...       Richard Erlacher      08/19/12 23:21      
               Biased sample selection.      Christoph Franck      08/20/12 05:06      
                  You've overlooked the inherent bias ...       Richard Erlacher      08/20/12 11:21      
                     Paying for professionals.      Christoph Franck      08/21/12 01:39      
                        That's very much the case       Richard Erlacher      08/21/12 09:16      
            Arif: Which govt are you referring to?      Kalpak Dabir      08/20/12 04:50      
               BMC      Arif Deshmukh      08/20/12 10:16      
                  What would trouble me ...       Richard Erlacher      08/20/12 11:35      

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