Q: Madoff, Stanford, Pang….how can we trust financial advisors? Is it still worth using a profressional to manage money?

I strongly believe that most of the financial advisors are ethical and care deeply about their clients. Financial services industry may have its share of swindlers but, I believe, the percentage of bad apples is much lower in it than in any other industry/profession.

It is also true that any wrong-doing in the financial industry grabs headlines in a much bigger way than it may in another profession. This is also the reason that people who are in the fiduciary duty have to be extra careful.

Clients, on the other hand, need to exercise common sense and ask questions to their financial advisors. If they believe that their questions are being ignored, then they should search for alternatives.

As far as professional money management is concerned, I think it depends on how much time and energy you can devote to it as well as how much investment knowledge you possess.

I believe that professional money manager can bring financial discipline, long-term focus, and capital market resources to the table that can greatly add value to your portfolio.