I came across an interesting article today in the InvestmentNews on “How to save wealthy investors from themselves.” The article lays out a solid argument that most investors, including those who work with an investment advisor, tend to make poor financial decisions. IN interviewed a representative of Barclays Wealth who observed that while the financial services industry is […]
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.
Three years ago I wrote a column critical of some investing advice offered by Dave Ramsey, the radio show host who specializes in helping people follow budgets and pay off debt. I have a great deal of respect for Ramsey and recommend his books, but on this particular issue I believed he was wrong, and I […]
The results of the study commissioned by South Dakota Senator Tim Johnson are in: the status quo regarding government oversight of financial advisors is adequate and no change is needed. The bottom line is this: sales people touting their financial products can continue to look and act like they are working in the best interests […]
Would you be comfortable taking weight-loss advice from a dietician or a fitness trainer who was overweight? Would you trust a surgeon who was unwilling to be a patient in the hospital to which he sent his patients? Probably not. Yet clients don’t hesitate to trust financial planners who don’t have financial planners of their […]
Not long ago I was meeting with a couple who were relatively new clients. We were going over data on a recent mutual fund investment, and I commented that I was surprised to see the fund offered a commission of 2.25%. As a fee-only financial planner, I rarely pay much attention to whether a fund […]