Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
By Dr. David E. Marcinko MBA
If you have some eggs about to expire, or a car that has problems, you can turn to an online community to find some solutions. But, what if you have a financial issue, like what to do with a windfall or how to invest for a kids’ college tuition, and need help?
Can you crowdsource financial advice?
Ramon Ramirez writes on the Daily Dot’s The Kernel about the personal finance section of Reddit, where people ask for, and receive, all types of advice on personal financial matters; The subreddit has 2.7 million subscribers.
Ramirez finds that “for the armchair experts … weighing in on these questions pro bono is all in a day’s work. They are generally affable, seemingly trustworthy, and largely convincing.” But, one professor of personal finance sees a problem: “Six people suggest six different things to do—now what do I do?
Professor Speak
First of all, who are these people that are answering this plea? Are they professionals? Are they certified financial planners? Do they have any idea what they’re talking about?”
Others say the peer-review part of crowdsourced advice is its most valuable aspect.
“Compare this to a traditional financial advisor. If you’re in here asking about what to invest your retirement into, and I’m suggesting funds that personally enrich me, I’ll get called out on it.”
Left unsaid, but surely true, is how investors will increasingly turn to sites like this to validate their advisors’ advice, or learn why they should change advisors.
***
***
***
Assessment
First we had crowd sourced funding, then crowd sourced medicine … and now crowd sourced investing! Prudent, or NOT?
More:
- About Crowd-Med
- Will Future Doctors Need a Medical License?
- Is Medical Licensing Really Necessary?
- On Replacing Doctors with Computers and Smart Phones
Crowd-Funding:
MORE: P2P
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- FINANCE: Financial Planning for Physicians and Advisors
- INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
- Dictionary of Health Economics and Finance
- Dictionary of Health Information Technology and Security
- Dictionary of Health Insurance and Managed Care
Share this:
Filed under: Investing, Portfolio Management | Tagged: Crowd-Sourcing Financial Advice?, Ramon Ramirez, robo advisors |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
The Dangers of Listening to Financial Pundits
Just because a market forecaster has a platform on TV, the Internet or in traditional media, that doesn’t mean his or her predictions are accurate.
http://www.msn.com/en-us/money/topstocks/the-dangers-of-listening-to-financial-pundits/ar-BBla7yP?ocid=iehp
Kalie
LikeLike
Go FUND Greece?
Briton launches crowdfunding bid to bail out Greece.
http://www.msn.com/en-us/news/offbeat/briton-launches-crowdfunding-bid-to-bail-out-greece/ar-AAckMtP?ocid=iehp
Artur
LikeLike
New York crowdfunding firm courts healthcare investors
According to John Andrews, an improving economy has boosted investor optimism in the market – especially in real estate.
http://www.healthcarefinancenews.com/news/new-york-crowdfunding-firm-courts-healthcare-investors
Ann Miller RN MHA
LikeLike
Crowd-funding update
How the Global Stock Market Selloff Will Affect Crowd-funding.
http://www.msn.com/en-us/money/small-business/how-the-global-stock-market-selloff-will-affect-crowdfunding/ar-BBm426j?li=AA4Zjn&ocid=iehp
Ann Miller RN MHA
LikeLike
Crowed FUNDING
The scalability of all crowdfinance platforms will ultimately depend upon their ability to penetrate the $14+ trillion retirement market.
Lane
LikeLike
Crowd Funding
Internet Crowdfunding and Wealth Management Market Trends in China include emerging firms: Taobao, Baidu, JD Finance, ZhongChou, Suning, Eastmoney; and more.
Xio
LikeLike
CROWD FUNDING R.E.
https://www.msn.com/en-us/money/realestate/crowdfunding-may-be-the-easiest-way-for-anyone-to-start-investing-in-real-estate/ar-AAV2vbX?li=BBnb7Kz
Lane
LikeLike