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No, most advisors recommend investments that pay high fees to the advisor, not high after-fee returns to the investor. Fee-only planners with nothing to gain from recommending one investment over another (other than a good reputation) are rare.
You can find a fee-only financial planner through NAPFA. Enter your location in the "Find A Advisor" box on the main web page. Highly recommended by Clark Howard.
Mandating that retirement financial advisers hold fiduciary responsibility for their clients. I can support that.
What a crock of baloney.
As usual, Obama relies on the serfs reading feel-good headlines and snippets. "Clients' welfare" can mean many things when it comes to investing. What if I want to invest my money in a manner that a financial adviser considers to be risky to my portfolio?
If Obama is so dang concerned about the middle class, he never would've bailed out the banks via QE, which has cost middle-class Americans (especially risk-averse seniors) beaucoups bucks in interest on their savings.
As usual, Obama relies on the serfs reading feel-good headlines and snippets. "Clients' welfare" can mean many things when it comes to investing. What if I want to invest my money in a manner that a financial adviser considers to be risky to my portfolio?
If Obama is so dang concerned about the middle class, he never would've bailed out the banks via QE, which has cost middle-class Americans (especially risk-averse seniors) beaucoups bucks in interest on their savings.
Give me a break.
Then you can you merely sign the appropriate form that you have been advised. Like any other waiver acknowledgement of being advised. Just like savings investing in the current environment the risk reward decision is on the individual this just helps to make it more of a informed consent. The intent is to make the advice in your best financial interest and not the advisors. Is that really unreasonable? Had the banks not been bailed out what would have been the fate of senior savings in those institutions? Just wondering!
I think it would be great, at least in theory. Experts shouldn't be able to get over on non experts for providing a service they are already getting paid for, or hiding how much they are getting paid.
People who think they are as expert as these guys, might think again.
I think it would be great, at least in theory. Experts shouldn't be able to get over on non experts for providing a service they are already getting paid for, or hiding how much they are getting paid.
People who think they are as expert as these guys, might think again.
I have concerns with the advisor regs but they are for reasons other than previously discussed. One of the possible unintended consequences is the inability to find a certified advisor if your portfolio is below a dollar amount higher than You might now need.
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I'm an investment adviser, and here's when I tell people they don't need my services.
