You're not the only one who thinks that good investment advice is only for the wealthy. 65 percent of Americans who invest money think that people with more money can get better financial advice than people with less money. Also, more than a quarter (26%) say that you need at least $100,000 to get good financial advice.
This is what a new survey by the Retirement Corporation of America says. The survey also finds that more than half of investors (56 percent) think that financial advisors lose credibility when they accept fees or commissions.
Given these ideas, it's not surprising that 53 percent of people don't go to a professional when they need to make an investment decision. Instead, they trust themselves or their family and friends. Investors find it hard to change their investment funds, though. According to the survey, 31% are willing to wait between one and five years before moving their money from a bad option to a better one. A third of respondents said that not having enough time to do enough research is the thing that makes it hardest for investors to think about change. This is followed by the 20% who say they don't know what to do because there are so many options and the 16% who are afraid of making the wrong choice.
The Retirement Corporation of America did this survey to learn more about why people keep their money in mutual funds that don't do well. Their new investment opportunity, Money Masters Investment Portfolio, is the first to give every American unbiased advice and access to the best-performing investment funds.
Getting rid of the guesswork
The good news for confused American investors is that the Retirement Corporation of America now has a new registered investment advisory account called the "R" Account. There are no minimum account balances, commissions, transaction fees, or exit penalties. It gives investors access to a fully managed Money Masters Investment Portfolio with 15 of the best mutual fund managers in the world, who are called "Money Masters." The Money Masters are the top 10 managers of stock funds and the top 5 managers of bond funds. They were chosen from a group of more than 8,000 fund managers who had to meet very strict criteria to be chosen.
How It Does It
When an investor opens a "R" Account, advisors from Retirement Corporation of America find out the person's goals and how much risk he or she is willing to take. Based on this profile, Money Masters creates an investment portfolio that best fits the needs of the individual investor.
