The complexity of investing and the overwhelming tendency to perpetuate self-destructive investing behavior make it seem only natural to seek professional help. Many Americans turn to financial planners, brokers, or fee-based money managers. But are these professionals as a whole any better than Main Street investors when it comes to following the simple rules of investing and applying academically sound investment principles, or are they part of the problem? Are they true defenders and protectors of disciplined investing, or is it a classic case of the fox guarding the chicken coop? The average financial professional is not any more seasoned and prudent than the average investor.
That is why I have dedicated my life to only one part of the planning process —prudent investing.