Books for FA brother

[Otispunkmeyer]

So my brother is studying, or taking exams for, becoming a financial advisor. He's also doing some extra one which will.allow him to advise on mortgages.

I have a passing interest in finance and investing. Just plucked up the courage to actually do some as well.

I've read "How to own the world" by Andrew Craig. Thought it was pretty sensible sounding with some great facts of life type advice in the first half. it does get a little rambling later though. Currently reading Tim Hale's "Smarter Investing". Not got far enough to comment yet. But also have in my queue, "the 4% rule" by Abraham Okusanya and "Investing Demystified" by Lars Kroijer.


Are any of these really suitable for someone who's going to become an FA? From the reviews it seems the 4% rule might actually be useful?

Any suggestions from here?

[Simpo Two]

This would be a good time to distinguish between investing and planning.

[DoubleSix]

Otispunkmeyer said:

So my brother is studying, or taking exams for, becoming a financial advisor. He's also doing some extra one which will.allow him to advise on mortgages.

I have a passing interest in finance and investing. Just plucked up the courage to actually do some as well.

I've read "How to own the world" by Andrew Craig. Thought it was pretty sensible sounding with some great facts of life type advice in the first half. it does get a little rambling later though. Currently reading Tim Hale's "Smarter Investing". Not got far enough to comment yet. But also have in my queue, "the 4% rule" by Abraham Okusanya and "Investing Demystified" by Lars Kroijer.


Are any of these really suitable for someone who's going to become an FA? From the reviews it seems the 4% rule might actually be useful?

Any suggestions from here?

‘Beyond the 4% rule’ is indeed a very accessible read and very useful for someone just starting out. Perhaps less in it for a seasoned practitioner but perfect for your brother.
As mentioned, a lot of the investment focused books will be of reduced benefit to someone with a planning focus.

Could always get him an FT subscription as another idea.

Edited by DoubleSix on Monday 9th December 21:32

[trowelhead]

JL collins - the simple path to wealth is great.

[Otispunkmeyer]

DoubleSix said:

Otispunkmeyer said:

So my brother is studying, or taking exams for, becoming a financial advisor. He's also doing some extra one which will.allow him to advise on mortgages.

I have a passing interest in finance and investing. Just plucked up the courage to actually do some as well.

I've read "How to own the world" by Andrew Craig. Thought it was pretty sensible sounding with some great facts of life type advice in the first half. it does get a little rambling later though. Currently reading Tim Hale's "Smarter Investing". Not got far enough to comment yet. But also have in my queue, "the 4% rule" by Abraham Okusanya and "Investing Demystified" by Lars Kroijer.


Are any of these really suitable for someone who's going to become an FA? From the reviews it seems the 4% rule might actually be useful?

Any suggestions from here?

‘Beyond the 4% rule’ is indeed a very accessible read and very useful for someone just starting out. Perhaps less in it for a seasoned practitioner but perfect for your brother.
As mentioned, a lot of the investment focused books will be of reduced benefit to someone with a planning focus.

Could always get him an FT subscription as another idea.

Edited by DoubleSix on Monday 9th December 21:32

Oh, that is a decent shout. Thanks!

[Simpo Two]

What is the regulatory position if he starts advising clients on investment based on what he's read in books, as opposed to his official study/training? Is he stepping beyond his remit and what will hit the fan if something goes badly wrong and his defence is 'I read it in a book that somebody on the internet said was good'?

[DoubleSix]

Eh??

[Simpo Two]

DoubleSix said:

Eh??

To clarify, let us say you have found some splendid bed-time reading on hedge funds. Does that then qualify you to advise a client to invest in hedge funds?

I believe you're an IFA so I expected a bit more than 'Eh?'!!

[mikeiow]

Simpo Two said:

What is the regulatory position if he starts advising clients on investment based on what he's read in books, as opposed to his official study/training? Is he stepping beyond his remit and what will hit the fan if something goes badly wrong and his defence is 'I read it in a book that somebody on the internet said was good'?

Who was suggesting he would start "advising clients" based on reading books & before finishing training?

[GliderRider]

As your brother is going to be talking to people and having to 'sell' to them, even if the product is merely a concept, anything on understanding people and what motivates them, will be of huge benefit.

Dale Carnegie's 'How to Win Friends and Influence People' is a classic, and still worth the time.

I echo your opinion on 'How to Own the World'. Even so, its a very good introduction to the various types of investment available, with the pitfalls of each described. Your brother is likely to have some of these mentioned by potential clients, so he should be aware of them.