Simon is a CERTIFIED FINANCIAL PLANNER™, originally from the UK with extensive experience trading on Wall Street and as a financial advisor at the United Nations.
His firm, Anglia Advisors, is a New York Registered Investment Advisory (RIA) practice in Manhattan that provides personal finance and investment management solutions by means of a unique, interactive and technology-based financial planning process. .
Simon's particular specialty areas are younger professionals looking to build, secure and protect their personal financial futures as well as foreign nationals living and working in the US on visas and green cards and the particular planning issues they face.
Unlike most financial advisors, the firm has no minimum asset level for clients and always operates under the Fiduciary Standard, meaning that it is required to act in the clients' best interests at all times and deliver the best possible service with no conflicts of interest. This is always the sole basis for all recommendations in any engagement.
Retainer-based ongoing financial planning is our key offering but portfolio management only and hourly-based consultations are also available.
BA, European Business Administration, Middlesex University, London
Diplôme d'Etudes Supérieures Européennes de Management, Reims Business School
CFP® Certification in Financial Planning, New York University School of Professional Studies
Assets Under Management:
Anglia Advisors is a New York-based Registered Investment Advisor. As such, the firm and its advisors act under the fiduciary standard at all times with all clients. Anglia Advisors is NOT permitted to offer direct tax advice, legal advice or medical advice, either domestic or international, and no firm communications of any kind (written, media, electronic or verbal) should ever be construed as such. The most recent copy of the firm's Form ADV is available upon request. Investments offered through Anglia Advisors. See all disclosures at https://www.angliaadvisors.com/disclosures/
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Three things should be non-negotiable, before you start to filter through how you feel about the advisor:
- CFP® designation
- Fee-ONLY compensation (not commission-based, fee-based or fee + commission)
- A fiduciary (ask them outright if they are a fiduciary. If the answer is no, wrap it up and leave)
Do not even consider interviewing an advisor who does not fill ALL THREE of these criteria. The CFP Board website is a good place to start looking.
If you are talking about individually trading your own money in the forex markets, my guidance to you would be .. DON'T.
These markets are dominated and controlled by massive institutions who have more information and technology than you could ever dream of. I know because I worked for many years as part of that machine. The traders who work for these institutions laugh at the suckers who try to do this stuff on their own on the internet and happily gobble them up for lunch.
Understand how much you don't know, understand who you are up against and that they know a million times more than you and have firepower that you can barely imagine, understand capital gains tax rules, understand the 24 hour nature of this mostly unregulated market - and then find something else to do with your life and your money than being the butt end of jokes of professional currency traders who work for big institutions before they go out and destroy your capital while you flounder around with your internet connection and complete lack of knowledge about what is moving forex markets at that time.
NO, IT DOES NOT!!!
When investing, make sure that what you are investing in trades on a recognized exchange ONLY. You need that in order to ensure the liquidity of your investment, ie., that you can find a counter-party to sell this to when you want/need to get out of it.
The hare-brained scheme you describe makes no sense and simply the "guarantee" of a % of the spread should be a red flag by itself. It takes one of the riskiest activties that exists in finance, currency trading, and somehow creates financial guarantees out of it. Repeat after me, this is a scam.
You may want to seriously review your friendship with person who presented this to you.
The most likely answer if your "advisor" is commission-based (which he/she is if they work for a bank, brokerage firm, credit union, insurance company eyc, anyone except a RIA), is that the advisor is simply putting on some unecessary trades with a view to churning your account, generating commissions from you and/or meeting quotas imposed by management.
Remember, when you make $1000 of 15% debt go away, it is EXACTLYTHE SAME as investing $1000 and getting a guaranteed, tax-free 15% rate of return.
- Completely kill the 15% CC balance by using $6300 of the 18k. Do not carry a balance on this card again. If necessary, use more of the $18k to ensure that balances are paid off in full every month.
- Be very careful of the "no interest" CC. Sometimes the zero interest only applies to transferred balances and even if it is for the entire balance, the zero interest is going to roll off soon, to likely be replaced by a very high interest rate. Make sure you know when this roll-off date is and have the balance at zero by then and keep it fully paid off monthly going forward. If you need to use some of the $18k to accomplish this, then so be it.
- Now turn to the $27k debt you have at 11%. Getting rid of this is still more important than investing, because a guaranteed 11% tax-free rate of return is not available and your current "plan" for the rest of the $18k is a savings account, paying you essentially nothing. Get this debt down to as low as you can and focus exclusively on making it go away completely (never to come back).