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KristineS
08-19-2008, 06:00 PM
It always amazes me how people will go on a forum and ask very critical questions with very large implications. On another forum to which I post, I've seen people ask questions about taxes and financial records that have very real implications. Usually, someone does come along and recommend speaking to an expert or a professional, but the fact that people don't do that automatically just amazes me.

I think forums can be very valuable for providing options and discussing issues, but for something that could have a large legal or financial impact, I'd want to talk face to face with a certified professional.

Where do the rest of you get your financial advice?

vangogh
08-19-2008, 07:26 PM
I know what you mean. We have some very knowledgeable people here who can offer advice on finances and taxes and legal, but I think everyone of them would tell you that you should really speak to someone in person for specific advice.

And it's not to knock anyone here who offers the advice. It's usually good advice, but it's not easy to answer a specific legal question in the confines of a forum post or thread.

Evan
08-19-2008, 08:30 PM
It depends on the knowledge of the people you're dealing with. If this, unlikely, was a forum of CPAs and questions were regarding the tax code or financial statements, then it's not really an issue.

People like to seek the advice of those in their network before moving outside that area.

KristineS
08-19-2008, 08:46 PM
I agree Evan, people often do want to bounce ideas off or ask questions of those in their network to get some grasp of the issues they face. As Vangogh said, that's not a bad thing and can often be quite helpful as forums attract very knowledgeable people. It just seems to me that some people seem awfully cavalier about the questions they ask, particularly when those questions could have an impact on their financial future.

You also make a good point that the financial advice that you'd get form a forum full of CPAs would be different than the financial advice you'd get from say a forum full of people who print t-shirts. You have to qualify the source.

vangogh
08-19-2008, 09:27 PM
That's true Evan. I think it depends on the question too. When someone asks a general question or a question that's clearly in the beginning stages of research it makes sense to ask on a forum. I think there are some great answers to be found.

I wonder about the people with a very specific legal or financial question and asking thinking that the answer they receive qualifies as legal advice. I've often answered a question, stipulating that I'm not a lawyer or an account and anything I say should be taken with a grain of salt. And yet at times I can almost hear the person on the other end running with what I told them as though it was real legal advice.

Those are the people i wonder about.

Business Attorney
08-20-2008, 01:10 AM
That's true Evan. I think it depends on the question too. When someone asks a general question or a question that's clearly in the beginning stages of research it makes sense to ask on a forum. I think there are some great answers to be found.

I wonder about the people with a very specific legal or financial question and asking thinking that the answer they receive qualifies as legal advice. I've often answered a question, stipulating that I'm not a lawyer or an account and anything I say should be taken with a grain of salt. And yet at times I can almost hear the person on the other end running with what I told them as though it was real legal advice.

Those are the people i wonder about.

I think you have honed in on the the biggest issue. The ones to worry about are not the people with general questions, trying to get their bearing before talking to a professional. The danger is in the people who give you a very detailed fact situation and think that the answer that they get in the forum can replace professional advice. The problem is that you can never really fully explore all the relevant facts in a medium like this.

There are times when I have sat face to face with a client, thinking that I have all the facts I need and then 10 minutes later learn a new fact that completely changes the answer. If that happens in a face to face meeting, you can image how much critical information gets omitted in an online post.

As a result, I try to avoid phrasing any advice as "the" answer online. Instead, I give people information that will help them make their own decision. But like vangogh said, sometimes you can sense that all the caveats are being ignored and that they are distilling the entire discussion into "the" answer.

vangogh
08-20-2008, 01:27 AM
That's exactly it and I think it should be said that this issue goes beyond people like you and Evan giving out financial and legal advice. It really should apply to everyone.

It's not to say you can't get good specific advice from people on a forum. I think you can, but you have to understand you're getting free advice from a person who probably isn't looking as deep as they would into your specific problem as they would if you were a paying client.

I do the same thing with phrasing as best I can. I'll often say "I think" or "may" or words to that effect to let you know I'm offering my opinion and not an absolute fact. It bothers me sometimes to see people offering what I know is an opinion in a way that states it as fact.

Most people so understand what they're getting when they ask a question a forum. At least I think most people do. There are a few though who think they might be getting a lot more. It's probably something we should all be more aware of, though in the end there's only so much we can do. If I say "I think" something works a certain way and you choose to ignore the "I think" part and take the statement as an absolute fact...

KristineS
08-20-2008, 08:20 AM
I always get the sense that there are some people who already know what the right answer is, but want the people on the forum to tell them something that will justify what they already want to do.

On the t-shirt forum a lot of people ask questions about copyright. They already know the image or slogan they want to use is not available, but they're still hoping someone will show them a loophole or tell them it's o.k. to do what they know they shouldn't do.

Sometimes people aren't looking for information, they're just looking for validation.

vangogh
08-20-2008, 11:31 AM
I'm guessing this is what you meant, but I think it's less that they know what the answer is and more that they don't want to hear another answer other than the one they already decided.

I see a lot of people who quickly dismiss any advice that doesn't agree with what they've already decided. I agree that a lot of people are just looking for others to tell them what they want to hear and not really looking for honest advice.