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      • Native Language:
      • Korean
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      • South Korea
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    • Join Date: Jun 2007
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    #1

    statement

    Please make the following in red clear for me.

    There is no scientific formula for picking the right coach. You should do the obvious due diligence including researching fees, comments online and from friends, possible disciplinary actions, or promises that sound too good to be true. One axiom that famous money manager Ken Fisher emphatically emphasizes: make sure the custody of your securities is separate from your advisor. You want to know that what your statement shows is actually what you have.

    Does this mean "You must manage your securities yourself. Don't leave them to your advisor. And you have to know that your statement shows your real (financial) situation"? Specifically what does "statement" refer to here?

    Thank you.

  1. Jill Dorchester's Avatar
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      • American English
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      • United States
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      • United States

    • Join Date: Oct 2014
    • Posts: 223
    #2

    Re: statement

    Does this mean "You must manage your securities yourself. Don't leave them to your advisor.
    Yes. This article explains a bit more about what an adviser actually does as well as the custody rule relevant to securities.


    Specifically what does "statement" refer to here?
    Your statement is a printed document that details all of your assets and any activity in your account. That is, the statement will not only list your holdings, but also any interest accrued, any purchases or sales, and any other changes in your account.

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