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Lies Your Financial Advisors Tells You | Phil Town financial advice

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A big misconception people have about investing is that they think they have to work with a financial advisor to be successful. But oftentimes, they don’t have your best interest in mind. Today, I discuss some of the common lies financial advisors tell that you should watch out for.

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00:00 – Intro
01:18 – Lie #1
02:23 – Timing the market
03:22 – Efficient Market Theory
04:19 – Lie #2
06:57 – Lie #3
09:34 – Lie #4
11:58 – Investing truths
12:19 – Question


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Phil Town's Rule #1 Investing 27/09/2021 - 8:31 AM

Have you ever worked with a financial advisor? If so, does any of this advice sound familiar? Leave a comment below!

Learn how to find quality companies and successfully invest on your own! Download my 5-Step Checklist for picking stocks: https://bit.ly/3kZUTNE

Bradley Harris 27/09/2021 - 8:31 AM

I had financial advisor twenty years ago. Haven't had one since. It was one of my biggest mistakes in my life.

Icynox46 27/09/2021 - 8:31 AM

What the fuck? Waiting for something to go on sale is literally “timing the market.”

柠檬 27/09/2021 - 8:31 AM

I think your suggestion is right, but my financial advisor also suggest they have information, like “insider information”, they have big machines, AI technology, analytical tools that individual investors like me probably don’t. Don’t you think that’s also worth considering about?

AFKON LV 27/09/2021 - 8:31 AM

Yea but how do i invest i dont se option to send money xD

Boris Gligorijević 27/09/2021 - 8:31 AM

You are our financial advisor, even though you cannot say, we consider you one indirectly. You, Buffet, Peter Lynch, Sven Carlin, Howard Marks, Charlie Munger and many other reputable names on you tube.

Tony Bao 27/09/2021 - 8:31 AM

Thank you, Phil.

MUSK pool 27/09/2021 - 8:31 AM

Financial advisors, I respect them but I would not use their services, I'm pretty good by myself.

Savorn Miggy 27/09/2021 - 8:31 AM

Every body is lying in America.

Kevin Chaplin 27/09/2021 - 8:31 AM

I had inherited my mother's stock portfolio. Right away I noticed there was way too many stocks the broker would only by 52 a hundred shares. It seemed very self-serving. I cashed in the portfolio when the pandemic hit and everything was shot down I invested the money right back in the market. I like your strategy investing in a down Market. Your information is very helpful

Ikaika Arnado 27/09/2021 - 8:31 AM

You camera is back focused…

ron whiteleo 27/09/2021 - 8:31 AM

Bad VID!!! just invest in Fidelity Zero Total Market Fund, set and forget.. keep it simple stupid, do not invest in individual stocks..

We Buy Real Estate! 27/09/2021 - 8:31 AM

Truth buddy. Love it Phil. I’m outside of the financial industry. How about a small allocation in bitcoin if you’re young? Disruptive, against grain technology money.

Miguel Salazar 27/09/2021 - 8:31 AM

Wow! Very good thoughts! This is good stuff. You have your feet on the ground!

C. Kevni 27/09/2021 - 8:31 AM

Hi Phil , would love to hear what you think about robo advisers, like the ones offered by the big funds with lower fees.

Paul Moses 27/09/2021 - 8:31 AM

You can't believe how I love your honesty

matthew Keeney 27/09/2021 - 8:31 AM

I have worked with a finacial advisor and last rport to me was he did 12% on my money I had with him . I have done some of my own trading folowing Phils rules . I have made beginner mistakes . But still I have been able to grow an investment by 30-35% as of this writing . I have also done option trading using phils strategies and I have done about 40% in 2020 . I have been trading now only around 2.5 years . Have gone and take phils courses and that is all the training I have done . Yes you to can do this . It isnt rocket science . Listen to phil and do what he says and you too can have some realy great returns

olivia lozoya 27/09/2021 - 8:31 AM

Thanks for this video, it’s very detailed 💥 Having got involved in the stock market and made much profits, I still greatly believe in it mostly as the market is very bullish this December. I strongly advice us to get involved in DAY TRADING properly guided by a pro trader with a working strategy/daily signals. For me it's been very successful because i was being guided by a pro trader called Hayford Kurt whose strategy/daily signals has proven to be so accurate and well analysed. Trading and growing my portfolio from 0.9btc to 5.8btc within 6 weeks is so awesome and credible. Hayford can be reach via Whatsapp_: (+447862067036) and _Telegram @ hayford_ksignals for inquiries into profitable trading systems 💯

Bruno ferrum 27/09/2021 - 8:31 AM

It's takes a lot to become a profitable trader but another alternative is to see the assistance and guidance of an expert to avoid loose of funds, then you will see how happy you will be.

d3ly51d 27/09/2021 - 8:31 AM

Phil: Financial advisors are scammers.
Scammers in the comment section: you should let this guy manage your money, here's their whatsapp number.

Stock Compounder - Brad Kaellner 27/09/2021 - 8:31 AM

I was hoping there was a clip from Danielle's podcast today. Michael Burry is indeed buying in South Korea and Japan! The Investment Adviser Public Disclosure site is a great resource 🙂

Ani Popescu 27/09/2021 - 8:31 AM


Darrell Copeland 27/09/2021 - 8:31 AM

Yes, when I was 20 (which was 38 years ago) I had worked my a** off and had saved $10k. There was a locally well known broker who worked for EF Hutton ( young folks will need to Google that). I thought since he worked in this beautiful building, wore nice suits and talked the part that I’d finally saved enough money to be “worthy” of approaching him and got up the courage to ask him if he’d “be willing “ to take me on as a client? Of course he was and within a year he’d turned my $10k into about $5k! Every time I tried to contact him to ask why my account was dropping so rapidly, he of course was not available and never returned my calls (no cell phones or internet back then). So he continued dodging me and ultimately I became so frustrated that I withdrew my remaining funds. In retrospect, it may have been the best thing that happened to me. That “tuition” to the school of hard knocks sent me on a life long journey that I walk to this day. After that experience, I promised myself that I’d educate myself on investing and all things related to it. From that time, I’ve been a voracious sponge on all things investing related and have taken the nuggets of wisdom that make sense and discarded those that don’t. Fortunately, I learned of Warren Buffet a long time ago and became BKB shareholder long ago. One of the reasons I’m such a fan of you Phil, is your philosophical connection to Mr Buffet, Munger, et al. To those who have read this far, the best advice I can give is what Phil teaches too, invest in your knowledge and be patient! I have yet to meet a patient investor who is sorry they were patient. The “race” is long and part of the fun IS the journey and in building your knowledge base as building your confidence and seeing that translate to larger retirement balances over time. Thank you for your podcasts Phil!

Cassandra Tânia 27/09/2021 - 8:31 AM

The best investing strategy is to engage in an investment which gives you time to go about your other plans, of which we can term that an advanced investment. I am currently involved in one where I earn 4 figures every 7 days.


Can you please do a video on investing a 401k

Art BW 27/09/2021 - 8:31 AM

My last FA to took 2% of my AUM in addition to choosing higher expense funds and significantly underperformed the broader market in many years. I fired him, go self direct and didn't look back.

Make Money Online With Stacy La 27/09/2021 - 8:31 AM

Cool insight, I appreciate an opportunity to get such knowledge…Financial advisor lied to us not to invest in bitcoin, Now I look forward to trading bitcoin and making it an alternative source of income.

O. Shawabkeh 27/09/2021 - 8:31 AM

That was a very good and true advice for the average person who can do his own dd
My rule is to diversify only in three stocks for now, while keeping an eye on their news and the globally as well.

Roky Erickson rocks 27/09/2021 - 8:31 AM

All the discount brokerages went to free trading back in 2019. How are they making money if you’re not paying a fee for your trades?

O. Shawabkeh 27/09/2021 - 8:31 AM

PLTR 🚀🚀🚀

Krishna's Dog 27/09/2021 - 8:31 AM

What's with all the random comments about Vectracoin?


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