It is going to be one of the most important decision in your life that where you should invest your money. Once you start seeking advice, there will be a deluge of it from all directions via your friends, family, co-workers, boss, in-laws and, don’t know how, you may also start receiving calls from some investment advisers from nowhere. They will try to wash your brain of all the previous understanding and knowledge and fill it with something which is the best investment for you, in their view though. You get a bit suspicious, which you should, and decide to make your own research before making a decision regarding investment, which you must. You sit before your PC, bid Google on and ask it to bring up information on ‘investment advice’. My o My! What is this! There is a long list of online investment advisers all claiming to be better than others. What should you do now?
Whether you seek personal investment advice or professional investment advice there is no fix rule in this market. In fact there is no subtle guide line which can help you guarantee profitable investment. Even professional investment advisors’ advice may not work in certain situations. That is why investment is always considered risky and demands for much care.
Lets talk about personal investment advices first. If some or one of your friend or relative is suggesting towards an investment options as lucrative, you need to question what he or she has based his advice on. Is it based on his / her instinct or has got some solid ground beneath it? Has he / she invested in it personally? You must check out the sources and then cross verify the information from some other sources as well. You also need to know how much knowledge this of your advisors has about investment option, bonds, debentures, share market, bullion etc. Does he/she possess sufficient qualification to do such predictions about the investment option? Being suspicious pays here!
So far as professional investment advisors are concerned, they do build their advices on a solid ground of their study and experience in the market. They are qualified enough to judge the market trend in future and do a lot of research and statistical study before offering an advice rather than relying on mere intuitions and market news. This of their skills makes them a more reliable and potentially strong bet with the investment point of view. But again, their decisions must not be considered as a guarantee of benefits.
So the wisest of the choice should be gaining knowledge about the investment adviser and investment options before a decision. There are many online websites which offer regular and updated investment advice to help you keep track with the possibilities. But, before you subscribe to their news letters, know about the credentials and knowledge of the promoters of these sites. And look not only at their educational qualification but also go through their success stories and talk to their customers, if possible, to confirm their reliability.