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Ric Edelman Review
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Who is Ric
Edelman? Ric Edelman is an author and runs one of the largest independent investment and financial planning firms in America. Ric Edelman has his own Radio Show syndicated by ABC Radio Networks. He has a nationally syndicated newspaper column called "The Truth about Money". He has authored several books, most recently "The Truth about Money" 2003, and "The Lies about Money" 2007. He is also a contributor to the "Oprah Winfrey Show". |
| Who's financial interests is Ric Edelman looking out for? |
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There is no doubting Ric Edelman's credentials he has an impressive resume. He has sold millions of books and his financial planning firm manages close to $2 billion. The problem here is that it appears to me, Ric Edelman's advice is solely designed to serve the interests of his financial planning firm and not the individual investor. |
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| A revelation about mutual funds? |
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This is evidenced by his flip flop from
supporting the managed mutual fund industry in his
audio book "No-Nonsense System for Building
Wealth". Then in his latest book "The Lies about
Money" Ric Edelman preaches about all the problems
with the mutual fund industry. You see his firm
moved from actively managed mutual funds to
institutional funds. The mutual fund industry
didn't just start having these problems. These
problems were present when he was recommending
them and his firm stood to benefit from
discouraging his readers from investments in
mutual funds. |
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Buy and Hold
isn't a strategy
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Ric Edelman has not been as successful as he is
without providing quality advice and service. He
has many good points and his strategies are sound
for the most part. However there are some things I
completely disagree with him on. In particular his
insistence on "Buy and Hold". Advisors like
Edelman call trend following gambling and see no
value in it. Unfortunately they seem to believe
that the average investor is not smart enough to
make their own decisions. With the advances
in technology,
computers and the internet, average investors can
get access to the same information as the "big
boys" and we can generate returns that are just as
good and usually better when we spend a little
time researching on our own. There are many
programs, systems, newsletters and other services
that can help investors make good sound
investments without paying some multi-billion
dollar firm to manage it for them. |
| Be diligent and use your own filter |
| Edelman makes some great points about the financial press that can easily apply to himself: "Many in the financial world have their own agendas. They aren't necessarily trying to give you financial information. What they are trying to do is generate profitability for themselves." |
| All that being said Edelman does provide some good sound advice you just need to look at it through the filter of knowing where he is coming from. Even Ric Edelman knows why he was writing his books, at one point he asks: "has this entire program been nothing but a sales pitch?" |
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