Nick Bruining: Seeking advice? Why it pays to do a little digging

When in comes to investing money, you’ll always want to make sure that you are able to put your money on the most profitable type of investment. Chances are, you’ve already seek for personal investment advice from just about all sides – your family, friends, co-workers and boss already have their own version of advice on where you should put your money.

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Financial advice

Aside from your peers, you can also use the internet for information about personal finance. It has a lot of services featuring this type of advice. But despite the availability of such pieces of advice, is it still necessary to ask for professional advice? Are the pieces of advice from your friends enough to help you make decisions about your personal investments?

Perhaps, you have family member, friends, or boss who is knowledgeable or good at handling money. However, it does not mean they are also knowledgeable of money market accounts or bonds.

No matter how detailed the information you get over the internet about personal financial advice, there is no easy way to out to succeed in your investment. It is always risky no matter what. Even the most popular websites can give the wrong advice at times.

Professional financial advisors know investments as well as the financial factors in great detail. Being able to determine how investments will react to future market trends is a topic that professional are very well knowledgeable of. They got this kind of personal investment advice from formal education rather than a shallow understanding of the market.

Credentials are the obvious reasons why many choose to work with professionals rather than from online blogs and articles, or from your friends. If you are trying the find out the credibility of someone, it is worth remembering that an extensive education is important. However, it is not always an indication that the investment will be a success.

Continue reading at: https://thewest.com.au/business/your-money/nick-bruining-seeking-advice-why-it-pays-to-do-a-little-digging-c-152360