<prompt> Human: Ive been a long-time lurker here and based on what Ive read, Im concerned that my financial advisor doesnt have my best interests in mind.When we met, I had about 15k that I could safely invest. He recommended putting 5k towards a whole life policy and the remaining 10k into Oppenheimer investments.Ive repeatedly seen the advice here, that the money invested in the whole life policy can be better spent on a term policy and putting the difference into investments, such as a 401k. I think that was the case for my situation as well. Unfortunately, I only started reading rpersonalfinance after I made several payments, and after examining the current cash value and guaranteed cash value, its in my best financial interest to keep the polcy.With that in mind, Im trying to learn more about the 10k that was invested, to make sure Im not being taken for a ride there. The investments are managed by Oppenheimer, with the following split: Developing Markets Fund emerging and developing market stocks, CLASS A: ODMAX, 1.33 Gross Expense Ratio, 1.32 Net Expense Ratio Discovery Fund small-cap U.S. growth stocks, CLASS A: OPOCX , 1.11 Gross Expense Ratio Emerging Markets Innovators smaller and mid-cap emerging and developing market stocks, CLASS A: EMIAX, 1.80 Gross Expense Ratio, 1.70 Net Expense Ratio Equity Income dividend-paying large company U.S. stocks, CLASS A OAEIX, 1.03 Gross Expense Ratio Real Estate real estate securities, primarily real estate investment trusts, CLASS A: OREAX, 1.46 Gross Expense Ratio, 1.36 Net Expense Ratio Senior Floating Rate senior loans, CLASS A: OOSAX, 1.17 Gross Expense RatioAlso, some possibly all of the investments had loading fees, as I recall my 10k investment immediately dropping to roughly 9,300 immediately after processing.Below is the asset allocation: Domestic Equity - 40 Alternative - 20 Global Equity - 20 Domestic Debt - 20Am I being taken for a ride?EDIT: WOW, this exploded! Thanks everyone for all the helpful replies. Since the whole life policy seems to be getting a lot of attention, below are the raw numbers: 10 pay policy, on an annual pay schedule Guaranteed Death Benefit: 260k Current Cash Value: 11.1k Annual Premium: 5.1k 7 payments remaining, next payment is scheduled for October 2015. 15k paid in already Enhanced Accelerated Benefit: In the event that you become chronically ill, a portion of a policys death benefits may be accelerated during your lifetime if you are permanently unable to perform two out of six Activities of Daily Living ADLs or if you become permanently cognitively impaired. Waiver of Premium: Protects you in the event of disability by paying the premium. Enhanced Guaranteed Purchase Option: A new whole life policy with a face amount up to 250,000 may be purchased without underwriting on each option date. There are eight option dates, which occur every three years, beginning at age 25 and ending at age 46.After the premiums are paid, the guaranteed cash value grows at roughly 3 per yearFor those interested in seeing more details, heres Guardians paperwork  <response>: I do think your advisor is out to make a buck. Given the total dollars you had to invest, I can in no way think whole life is a good option for you. It is not a good option for probably 99 of the people out there, and particularly not good for people without a lot of money to be invested. If you need insurance, buy a term policy. If you want to invest, do not buy insurance products to do it - they are mainly set up to make money for salesmen and the company. Be aware that there can also be annual administrative fees - often if you do not have a certain minimum amount in your account, and since you started with only 5K Id check into this.Regarding the Oppenheimer funds, expense ratios are pretty high, but not horribly outrageous for a managed fund, however most or all of those funds also carry pretty heavy loads hence your observation that you put 10K in and then your account was only worth 9KFor example the load on ODMAX is 5.75. This means that you paid 5.75 just to buy the fund. If the fund returns say 4 this year approx what it did last year then youve lost money for the year because you paid 5.75 to buy it and 1.32 in expenses, and 12-b1 fees of .25.Also, while I believe in diversification, buying 6 funds with an amount as low as 10,000 sounds like overkill big time to me. With only 10,000 Id probably do no more than 3 funds.You can invest yourself pretty easily, and get lower costs and still have diversification and performance. Managed funds rarely beat the index funds over time and when expenses are taken into account. If you do a no-load index fund through Vanguard or American Century or even via a discount brokerage like eTrade your costs will be low. With 10,000 Id do maybe 5-7K into an SP500 or total stock market index, and 1-3K into an international fund. You might also do a bond fund as a limited part of the mix 1-3K, particularly if you are nervous about the stock market or are an older age. The issue with having a lot of funds with such a small amount is that often there is a minimum buy-in. So you may need to just do one or two funds for now and add more funds as you can build up money.It is kind of messy to get out of things now, but I guess Id try, or at the very least stop putting new money in with this guy. If you want to get out, you can have him sell all the funds and then you can arrange for that money to be transferred to your choice of fund company or brokerage. For the whole life, dont pay in any more. You can tell your advisor that you want to cancel and have any cash value that has accrued returned there might not be any, or very little, depending on how long youve had itBest of luck. You can do it!A lot of people make mistakes in trusting people and getting sold stuff that is not the best for them. I bought a variable annuity at like age 25, which I now think is pretty ridiculous. Around that same age, I had a salesman talk me into buying Class B shares of a pretty high expense insurance-company-based fund. I was excited to be earning money and building my future and I just didnt know so I got sold.You move on and do more to educate yourself and try to do better next time. 