Are we all now part of a Bond Movie?
- Date: 28/10/2015
Investors should always take professional advice when it comes to their money, rather than be lured in by Dr Evil, comments Frazer Wilson, Senior Consultant, Thomas Miller Investment:
As the new James Bond film opens this week and cyber hacking scandals are plastered across the papers, it seems we're all subject to what we've seen in films or read in fiction books. Data theft, ransom demands, pension fraud, what's next?
Many of us now have smart phones and tablets so are inundated with news, both good and bad - so who do we trust and what should we be fearful of? Increasingly we want more bang for our buck. Who cares where our money is, as long as the returns are high and it's cheap, right?
Wrong. Trust is the key.
Large numbers provide sermons about where we should invest our money. But the first question that should be answered is "why should I invest?". A little knowledge is a dangerous thing, and as we all know the cheapest deals or the highest yielding bank account may not be quite what it seems. Remember - all that glitters isn't gold.
The most suitable advice should take into account your future plans. Only qualified Financial Advisers are in a position to do this, in conjunction with other professionals, such as accountants and solicitors. How many times do you read "seek advice from your Financial Adviser" at the bottom of a “great deal” advert?
The speed of technological change is increasing and we must all learn new disciplines. So, if you’re unsure about what to do with your money, a good starting point might just be a professional, rather than being lured in by Dr Evil.
Author: Frazer Wilson, Senior Consultant