wanting tracking software and financial advisors
Hi. I'm wanting a recommendation for tracking software. I am very new to financial markets and I'm grow(n)ing to realize how important it is have an understanding of financial instruments, the risks and benefits. I have recently talked with two financial advisers, which was an interesting experience. The first was 'discretionary', they worked using their discretion to invest money on my behalf. She wanted a $750 fee for a report, which basically laid out an understanding of our financial position in relation to our life circumstances. I asked for a sample report and it came with little insight. The most important part was the expected return. There was no explanation of how that return would be provided, just a .4% commission fee. It was not explained to me what 'discretionary' meant. That came from the alternative adviser who used it as a term of derision towards the other lot. This guy from McQuarie or some other place laid out a no obligation plan of where to invest. The problem with this approach is having some insight into the market, which of course they wanted you to pay for, about 1.25% of the portfolio size, plus $100 brokerage. I thought instead that I would attempt to do this all myself, but it takes some effort to get up to speed. I've read on this forum for example, that bonds offer a better return over term investments, but you do need to look carefully at both the company and the bond offer. I am still wanting to accept advice, but the sort that I feel comfortable with. I suspect the sort of people on this forum like to do it themselves as much as possible. It is not inevitable that financial advisers are expendable. It is difficult getting an understanding of how that currently works.
Someone suggested that spreading term investments around institutions is a good idea and then laddering them for effect. I have a lot of trouble keeping track of expected returns, at a glance. I wondered if someone could recommend software out there to mange my portfolio of bonds, shares and term inv.
Thanks,
Fred.