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Managing Stock Portfolios Effectively

by Chris Cooper, Financial Planning Expert
August 14, 2015

Question: I was told by my accountant that my stock portfolio is stagnant and I need to do something about it. Is there any harm in keeping it the way it is? I don’t follow my stocks regularly but I am not sure I want to sell them.

Answer: Stocks are never stagnant, so I would be suspicious of your accountant’s hidden agenda:  is he a stock broker in disguise?  Does he have a fee sharing relationship with an investment advisor?  Best thing to do here is to hire a fee only financial advisor ( which is one that does not sell securities or insurance, and one that does not do investment management, but rather one that works on an hourly fee or a project fee. That way you get an objective assessment of your stocks, and can recommend strategies to reduce risk and improve performance.  If you are not following your stocks regularly, you may want to engage this fee only advisor to oversee your portfolio.

Chris Cooper is the owner and founder of Chris Cooper & Company, Inc., a fee-only financial planning firm for elderly persons and the owner and founder of ElderCare Advocates, Inc. a private geriatric care management and long term care consulting firm. As a California Licensed Professional Fiduciary, Chris can serve as  Conservator of the Person and Estate under court appointment,  as Agent under a Durable Power of Attorney for Financial matters and Health Care matters.

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