Make sure your money is in the right PLACE, with the right HANDS, NOW.
When it comes to Money these are the essential things to look for:
- Get a Fiduciary who serves your account diligently.
- That means frequent, understandable reviews
- Make certain whoever helps you routinely communicates about what actually matters to you.
- Get service from somebody who will never treat you like a number.
- Gain more and more knowledge to grow your confidence in true asset management.
Rule out the following potential sources of investment advice:
- major bank
- retail brokerage firm
- insurance company
- discount brokerage
The financial industry has a clear history of dumbing down the conversation about money.
Customers are routinely kept in the dark. Most retail investment customers report to us that they never read their statements.
What is really happening in your portfolios?
Wall Street firms and financial media often imply the public isn’t smart enough to understand: “This should be left to the experts” is a recurring theme. What’s the proof this strong criticism is true? Not ONE major brokerage firm provides customers with detailed and current investment-by-investment performance information. You deserve to see this on a routine basis. Yes, they mail you “statements”, the paperwork you receive has zillions of numbers poured onto a forest of paper with gallons of ink.
This approach can distract you. It’ doesn’t stimulate you to ask the important questions.
Irrelevant information can obscure knowledge about where your investments are headed. This is the most important knowledge you need. Is it on your statement or review? Probably not. Investment selection and monitoring requires knowledge. knowledge is something we believe is in your best interest.
You may be wise to avoid sales people known as “Financial Advisors.” They don’t or can’t deliver on the essentials we mentioned above.
Financial Advisors were called Stock Brokers in the past. They are front-line salespeople. Many large firms restrict their sales people in ways you don’t see. Such restrictions can prohibit open, detailed communication with you. Many Financial Advisors have been drinking from oceans of Wall Street Kool-aid. Most firms routinely put themselves ahead of your best interests. Conflicts of interest abound. They are always last to embrace “fiduciary” rules. Such rules require them to do what is in your best interest. What does a fiduciary offer?
- open, transparent disclosure
- someone who profits on making the public’s investment awareness GROW
- Someone who avoids profiting on the public’s vast financial ignorance
Your security and legacy might well depend on this. Get aware, get busy, make changes.