By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (87) | February 9, 2010 | Conflicts of Interest, Wall Street Ethics, Who Can I Trust?

Wall Street is counting on the short-term memories of millions of investors who need their services so it can return to business as usual.

Two times in the past decade Wall Street greed and incompetence created trillions of dollars of losses for investors. You might think investors would be fed up and pull their assets from these institutions. There are three reasons why millions of investors stay with Wall Street firms.

First, they still need Wall Street’s types of services. And, unfortunately, investors don’t know where else to go to get the planning and investment services they need.

Second, Wall Street uses advertising and other marketing tactics to tell investors what they want to hear – we are competent and trustworthy. Unfortunately, people believe these marketing messages and forget the billions of dollars of fines that Wall Street companies paid for cheating investors.

Third, Wall Street employs or licenses hundreds of thousands of personable financial advisors who commiserate with investors then sell them Wall Street’s latest products.

There is a solution. Hire an independent Registered Investment Advisor who is paid fees to help you achieve your financial goals. They do not have the conflicts of interest that afflict Wall Street companies. For example, they don’t have shareholders, Boards of Directors, and senior executives seeking $50 million bonuses. Independent professionals can focus on helping you achieve your financial goals.