How To Know When It’s Time To Change Investment Advisors—Quickly

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After I introduced him to, a friend of mine was worried about his investments. His retirement plan was managed by a “conservative” and “respectable” firm, but it didn’t seem to offer him the options he wanted, so he arranged for a face-to-face with one of their agents.

In the meeting, they just didn’t seem to connect. The agent, obviously reciting his company’s line (and pushing the company’s products), couldn’t understand my friend’s concerns about coming hyperinflation, etc. What makes you worried about that? he asked. My friend started explaining, then added, “the Federal Reserve…” The agent looked even more perplexed than before, then wrote on his yellow notepad, “Federal Reserve???”

My friend decided then and there to switch investment advisors, politely but firmly.

He is now a client of Peter Schiff’s investment firm, where they know all about the Federal Reserve.

3:35 pm on January 9, 2011