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Is your financial adviser a Jedi Master?

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By Joy Aquino - December 16, 2015

[Estimated time to read: 2.5 minutes]

How Star Wars can help you with international investment advice!

Jedi vs Sith Lord Financial AdviserIt's here.

The new Star Wars movie.

Love it, hate it or ignore it.

But can you learn from it?

Can it make you rich?

Star Wars is about the struggle of good against evil.

Of yin and yang, dark versus light, truth against deception

In international financial advice, this struggle also exists.

It is the struggle of a massively strong financial services industry which manufactures and vends to you toxic products and investments. These are often expensive, unsuitable and opaque. This is the evil Empire.

But in a small office far, far away there exists a rare breed. Professional financial advisers who act on a true fiduciary basis. They are transparent, independent, highly skilled proponents of a different philosophy. Who act in your best interest. These are the Jedi.

This is how to tell the difference…

1. A Jedi financial adviser helps you understand the truth.

A Jedi financial adviser is a teacher. They want you to understand the truth. The truth is that financial services firms may all look the same. But the underlying differences are titanic. On one pole is this industry which exists to conquer and exploit. On the other extreme are those committed to service and the greater good.

A Jedi adviser will tell you if and when you need advice (as some people only need a little guidance and can therefore save on the cost of advice). They will also tell you what type of low cost investments are right for you – and what charges you are paying.

A Sith master like Darth Vader simply won't. 

They might pretend they will. But they probably work on undisclosed commission. They probably sell structured products or other high cost, high risk and esoteric investments.

2. A Jedi financial adviser protects you.

Jedi's defend and protect.

Their first priority is to ensure your safety. And this is normally done through establishing the right account or platform on which to build your wealth in the long term.

They align their interests with yours.

In contrast, a Sith simply sells you a product that pays them a colossal upfront commission. It's often toxic (To know if you’ve been sold toxic investments, read our guide here).

A Jedi financial adviser has their interests aligned with yours. They will be paid an annual fee which is a set percentage of the size of your portfolio – so if your money grows, so will their income. This does not provide them the incentive to work hard for your investments, as they only really care about what they get upfront and vend whatever pays them the most.

3. A Jedi financial adviser builds your wealth.

A Jedi establishes long term relationships. This means a documented financial plan where appropriate. They understand you now and help you get to where you want to go. Through ups and downs.

A Sith may be your best friend today but will be gone tomorrow!

Remember – members of the Sith Order are masters of deception and can therefore trick you into thinking you’ve got yourself a Jedi Master. But it’s not really difficult to learn which side of the Force your adviser lies.

To find out more, download our guide “How to tell the difference between heroes and villains in international financial advice” below, and may the Force be with you.

Image credit: The daily life of Darth Vader by Pawel Kadysz