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Need some serious and thoughtful advice

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Ancap89 posted on Sat, Apr 28 2012 4:23 PM

Hey everyone,


I've posted here once before, but I haven't been making a habit of visiting. Anyway, I need some very serious, very thoughtful advice.


Two problems:


Problem One: How do you deal with doubt in regards to:

1. Gold

2. The direction that this country, this government, this society, and ultimately this global financial system are heading

In other words, how do you cope with the fact that the vast majority of the world thinks that you are crazy?

I know that I can't be the only who, from time to time, asks himself "but what if I'm wrong about all of this!?" Anything that helps set you right, puts you back in place, reaffirms your beliefs, or simply COMFORTS you would be extremely helpful.


My second problem (This is a biggie).


A good friend of mine has a fledling wealth management firm. It is already very successful, and I believe that it is bound for much, much, much greater success in the future. We have been talking recently, and he wants me to come on board.

This is, without a doubt, an amazing opportunity for me, and I have been very excited about joining him. He follows, which I believe is, a very good wealth management/investing philosophy, which is basically focused on avoiding speculation, pursuing high diversification with low risk and good returns. Most of the money is focused in the stock market (very diversified though, global markets, small cap, etc etc.), and some is focused on short term high yield bonds.


Of course, since it is a wealth management firm, they also take care of people's retirement, college, insurance, etc. etc. Basically making sure that all of their finances and investments are taken care of.

I think the business is great, and I would really enjoy it. It would be, in many ways, very fulfiling for me.


There is only one problem...


I have been for some time now a pretty strong proponent of gold. In that sense, I mean that I think it is smart for anyone to possess SOME gold, just in case. In other words, if I am a millionaire, I really don't think putting 2-5% of my assets into physical gold is such a big deal, especially when you look at it as an insurance policy.


2-5% is not really asking for much in my opinion. I am not a huge proponent of survivalism (unless you have a ton of money and you don't mind being lonely). I think people should still invest their money in the market, because nobody really knows when the poo is gonna hit the fan. That being said though, why would you NOT want a little bit of gold that you can take with you in case you need to leave the country and your dollars are truly worthless?


Anyway, I have talked about this a lot with my friend, and he feels that it is fine that I hold the views on gold etc, that I do. HOWEVER, he has told me that I cannot be telling/advising clients about gold, since this is not part of the firm's investment philosophy.

I am very torn. What do you think I should do? Will I make a lot of money? Yes. Will I be (mostly) helping people with their financial safety and future? Yes. Will I feel comfortable knowing that I can't give them all the advice which I believe that they should hear?...I'm not sure...


What would you guys do? Do you have any advice? Please help. I really need someone who thinks similar to me about these issues to help me out.


Thank you

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Top 25 Contributor
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I took some courses for a "Sales Consultant" position with IG years ago.  What you are describing sounds essentially the same.  I didn't end up going through with it because I was too conflicted, not only about the portfolio management, also because the regulations are obviously designed to neuter the consultant and protect the big banks' sleezy services.

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JJ, I think his response to this (which I too find strange) is that "academic research has shown" that gold is not a good hedge against inflation. What research this is I do not know. I need to pester him to give me the actual studies.

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By the way, how the heck do I quote stuff on the forum? I keep trying different things and it never works.

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Top 10 Contributor
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By the way, how the heck do I quote stuff on the forum? I keep trying different things and it never works.

Check out the Welcome link in this thread.


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