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Old 02-26-2015, 11:37 PM
 
Location: Idaho
4,650 posts, read 4,489,701 times
Reputation: 9137

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Quote:
Originally Posted by Larry Siegel View Post
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.

Fee-Only Financial Advisors Home - NAPFA - The National Association of Personal Financial Advisors
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Old 03-02-2015, 02:43 PM
 
Location: Idaho
4,650 posts, read 4,489,701 times
Reputation: 9137
Default I'm an investment adviser, and here's when I tell people they don't need my services.

From Business Insider, linked to by Yahoo news.

I'm a financial adviser, and here's when I tell people they don't need my services - Business Insider
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Old 03-07-2015, 08:03 AM
 
Location: Central Massachusetts
4,800 posts, read 4,860,228 times
Reputation: 6379
Quote:
Originally Posted by volosong View Post

Great piece volosong. Thanks for sharing.
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Old 03-07-2015, 08:15 AM
 
Location: Upstate NY
35,717 posts, read 10,574,417 times
Reputation: 33875
Quote:
Originally Posted by volosong View Post
From the Miami Herald

Obama to announce retirement account change | The Miami Herald The Miami Herald

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.

Give me a break.
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Old 03-07-2015, 08:27 AM
 
29,835 posts, read 34,918,975 times
Reputation: 11752
Quote:
Originally Posted by Delahanty View Post
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.

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!
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Old 03-07-2015, 08:43 AM
 
7,983 posts, read 11,681,171 times
Reputation: 10484
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.
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Old 03-07-2015, 08:55 AM
 
29,835 posts, read 34,918,975 times
Reputation: 11752
Quote:
Originally Posted by Giesela View Post
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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