Financial Planners Category
Some planners are CFPs, some are CPA/PFS’, and some are sales reps masquerading as planners so they can sell more investment and insurance products. For example, life insurance agents figured out a long time ago that “planner” sounded a lot better than “agent” when they talk to potential clients. With no other changes they became overnight planners because it helped them move product.
By: Amy Herrick | June 9, 2009 | Conflicts of Interest, Financial Advisors, Financial Planners, Investment Performance
Carefully examine the motives, expected results and the reasons why anyone is suggesting or endorsing it.
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By: Jack Waymire | June 8, 2009 | Bad Financial Advice, Financial Advisors, Financial Planners
Did you know financial advisors want investors to like them for two primary reasons?
First, when people like advisors they also trust them and let their guards down. If that person happens to be a less than ethical financial advisor, a door opens that makes it easier for them to sell bad advice and products that maximize their incomes.
Second, investors are more tolerant of bad results when they like their [...]
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By: Jack Waymire | June 8, 2009 | Financial Advisors, Financial Planners, Illegal Schemes & Scams
What would you do if you found your investment advisor was running a Ponzi Scheme that included fake investments, returns, and reports? Report the advisor to the authorities or try to get your money back yourself?
One investor hired some ex-Navy seals and marines to pose as police officers who threatened the scheme operators with arrest if [...]
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By: Rick Kahler | June 8, 2009 | Financial Planners, Who Can I Trust?
One of the big local news stories in my area recently featured a young man who won millions in the lottery. Until a few weeks ago, this man had probably never thought about financial planning and certainly never even considered that he might need a financial planner. Yet now, for the sake of his and [...]
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