How Many Investment Advisers Should You Hire?
by James D. Harrington, assistant professor, CFA, Senior Investment Adviser, Bluesphere Investment Advisors
Jul 08, 2019
2 minutes
Cooking and investing: What could they possibly have in common? As it turns out, quite a bit. Just as too many cooks can spoil the broth, too many investment advisers can spoil your investment returns. In fact, your "investment soup" tastes best when it comes from the kitchen of one investment adviser.
When I meet with individual investors or potential investors, I am amazed at the number of individuals who use or believe in using multiple investment advisers. These folks are of the perception that more than one investment adviser translates to a safer, more diversified portfolio. With many things in life, perception often differs from reality, and this thinking certainly holds true in
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