So yesterday, I was on the phone with somebody looking at investing in one of our oil and gas programs at www.oilcashflow.com . After he looked over everything and saw the numbers, he told me he was going to talk to his financial advisor, and if he advised him to do it, he’d figure out you know the position he wanted to take.
So yeah, I wanted to make this video to explain a little something about financial advisors. That’s great you have an advocate for yourself, but I hear that a lot. I hear all the time, well, uh, I want to show my financial advisor or ask his opinion. The truth of the matter is if he’s a decent financial advisor, his opinion will be NO, and it should be. Let me explain a little something to you. The definition of a financial advisor is someone to help manage your money. The typical salary of a Financial Advisor is $89,000 a year. If you’re looking at an oil and gas deal or any price form of private placement program, you’ve got to make over $300,000 a year in income. So you’re going to ask the opinion of somebody that makes less than one-third of your income what you should do with your income.
Now, this is not a knock on financial advisors. Let me explain something. There’s a 10 percent rule that I like to use, and financial advisors, there’s no exception there 10 percent of the financial advisors make 90 of the money that financial advisors make, so there are some fantastic financial advisors. Let me put that in there. You know, before I end up offending somebody but your typical financial advisor, you’re paying him to diversify your portfolio. Well, I’m going to save a bunch of you all money by simply googling you know Ray Dalio, Ray Dalio has an all-weather diversified portfolio, and you can manage it yourself and save the amount of money that you’re going to be paying to your financial advisor, so you know where does oil and gas fit in. That well, it’s more complicated than yes it’s a good investment, or yes, it’s a bad investment.
If you’re paying a lot of money in taxes or looking for other means of residual monthly income. You need to look at a deal for what it is and not rely solely on the decision of a financial advisor because the odds of him even understanding what he’s looking at or slim to none! So you’re asking for advice from somebody who doesn’t have any to give, so their standard response to that is no is the easiest way for a financial advisor to not put in their homework or not look at a deal for what it is. To understand it because when they say no, that’s where it will stop, but if you can diversify on your own and see that you can have some benefit. If it’s income or tax benefits or building long-term wealth or investing in America, then you know to do your research in development, and you know maybe if you have one of those top 10 financial advisors, they’ll invest.