106 Things We Do For Clients, No. 39

by | Aug 23, 2017 | *Financial Awakenings, Fee Only Financial Planning

No. 39 of 106 Things We Do For Clients

Provide investment advice without the bias that comes with receiving a kick-back in the form of investment related commissions or other performance compensation. You cannot be assured of receiving it from any investment or financial firm that operates its own mutual funds. If the name of the fund carries the name of the “Advisor” you are not getting balanced advice, no matter how much the representative may say otherwise. A broker at Vanguard has a bias to put you in Vanguard Funds (the firm has 312 funds or share classes they sponsor). Likewise a representative that works for Fidelity (1086), Schwab (96), Wells Fargo (504), Deutsche Bank (306), JP Morgan Chase (715) Morgan Stanley (251), Goldman Sachs (594), Prudential (365), or Credit Suisse (23), all major Wall Street brokerage firms that have branded their own mutual funds. As fiduciary financial advisors, we owe allegiance to no investment firm. We choose the best investments based on our balanced research rather than “in-house” research slanted to favor propriety funds.

Print Friendly, PDF & Email