The age of consumerism has passed over the financial services industry. This means average investors who buy mutual funds, insurance policies, annuities and other types […]
FA Magazine published an article by Robert Isbitts on August 20, 2014 entitled: When History and Asset Allocation Collide. This article caused a collision between […]
If your answer is yes, you may be in serious financial trouble and not know it. Read on if your answer is no. You are about to learn some nasty tricks of the trade that have been engineered by Wall Street.
A high percentage of investors believe financial advisors have to tell the truth because they work in a regulated industry. It’s true, they are supposed to tell the truth, but there is no way the regulatory agencies (FINRA, SEC, State Securities and Insurance Commissioners) can protect you from unscrupulous advisors. […]
I received a question the other day on a topic most of us take for granted. Why does Wall Street bill my investment account and not me? I believe there are four primary reasons.
First of all, your advisor bills your account because he can. Either his company has physical possession of your assets or his company has a business relationship with the firm that does have possession of your assets. For example, your advisor works for ABC Financial and the custodian for your assets is Charles Schwab. ABC and Schwab have a relationship that permits ABC to bill your account and Schwab will pay ABC the amount of the electronic invoice. […]
In a recent Investor Watchdog survey we uncovered an investor belief that could badly damage their financial interests. Investors did not believe they had a […]
Wall Street does not want you to know there are two primary types of people who sell financial advice and services. One is a sales representative (rep) who is limited to selling investment products for commissions. The other is an advisor who provides financial advice and ongoing services for fees. Wall Street knows you do not want sales reps handling your assets, so it does everything it can to obscure the key differences between reps and advisors.
You can avoid many of Wall Street’s shadiest business practices if you select a professional who is a financial fiduciary. Following are five reasons why this is true. […]