10 Questions with... Jonathan Clements on Bulls, Bears, and Sheep

March 2005
Journal of Financial Planning;Mar2005, Vol. 18 Issue 3, p12
Academic Journal
This section interviews Wall Street Journal columnist Jonathan Clements about financial planners, investing and investment advisors. Clements relates that his original vision for his column was to be different from what the Money & Investing readers had been getting--there was very little information tor the average individual investor. He saw it as a place to make the world of Wall Street and investing understandable and accessible for readers. Clements admits that he is skeptical of financial advisors. According to him, there are a lot of different problems, but the number one problem in his mind is that if somebody needs an investment advisor, they are unsophisticated and, therefore, they cannot tell whether the advice is good or not. He adds that the principal problems are that there is no requirement for formal education, the costs are often too high, there are too few consumer safeguards, the focus is frequently on the wrong things--such as beating the market--and conflicts are created by compensation arrangements. Clements relates that he has not ever worked with a financial planner or advisor. According to him, he does it all on his own, as well as help a number of friends and family.


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