Okay, I did it again in a recent column. And I got into trouble again. That’s what I get for using the F-word. “Fiduciary.” My most recent transgression was to point out the simple fact that insurance agents are compensated by commissions on the products they sell. They have no fiduciary duty to legally act […]
Tag Archives | Financial Advisor
Any providers of financial services have opinions and biases. What you can do as a potential client is evaluate the factors that might affect an advisor’s biases.
Is it a good idea to give control of your finances to someone else through a power of attorney? Maybe. Or maybe not. It’s foolish to sign away complete authority to someone who may or may not be trustworthy. It’s equally foolish to refuse to consider a power of attorney in circumstances where it could […]
Trusts are effective financial planning tools based on a structure that is simpler than it may seem. The creator of the trust contributes something of value into the trust and creates instructions as to how it will be managed and eventually disbursed. The trustee is responsible for keeping the property safe and managing and distributing […]
“I need to share a secret with you: financial advisors aren’t perfect.” That’s how financial planner Tim Maurer opens an article published online in Forbes on December 7, 2011. He goes on to explain that “anyone trained to be an advisor in the financial services industry proper . . . is likely given more instruction […]
When it comes to transparency and understanding who represents whom, the financial service industry could learn a lot from the real estate industry. When you are a customer, the salesperson’s job is to sell you a product or a service. While salespeople and their companies have a duty to be honest and fair with you, […]