There are numerous smart investment advisors. Ric Edelman is widely syndicated on radio and is a constant promoter. His radio shows can be entertaining and contain good advice. Below is an excerpt from a column that appeared on the CNBC website. You can find him at Ricedelman.com. This is not an endorsement for his services but he is a market savvy advisor.
"...here are 15 investment products and strategies (in no particular order) that you would never hear my colleagues or me recommend:
1. Variable life insurance policies 2. Non-traded real estate investment trusts 3. Hedge funds 4. Commodities trading 5. Options and futures trading 6. Derivatives 7. PIPES (Private Investments in Public Equity) 8. Alternative investments 9. Viatical settlements (buying insurance on someone else's life and waiting for that person to die) 10. Master limited partnerships investing in oil and gas 11. Fixed annuities 12. Equity-indexed annuities 13. Lottery tickets (seriously?) 14. Actively managed funds 15. Retail mutual funds (we prefer exchange-traded funds and institutional-grade mutual funds, both of which are far lower in cost.)"