Would you let your child be your financial advisor?

Perhaps! In fact most investors claim that 23% take the financial advice from friends and family, 26% from traditional financial advisers and accountants and 20% from online resources according to this article. Sure, if your kids are still in nappies, or they struggle to manage a car then allowing them to influence your financial decisions could be costly - perhaps bordering on stupid! However, if your child is old enough with enough investing nowse under their belt - why wouldn't you?
Still, the cry for more online resources for investors increases. However, if the desire for online advice and resources becomes too great it will impinge on one of the other two sources of financial influence - and it won't be the family and friends!
Maybe the days for traditional financial advisers and accountants are numbered. People will always tend to rely on those closest to them to influence their decisions and that usually isn't the professional number-crunchers.


Comments
Listening to his kids always worked for Peter Lynch!
Posted by: phd | June 2, 2006 11:45 AM