investment recommendations

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What are the Differences between a Financial Planner and Financial Advisor?

Financial planners provide a number of planning services that help you manage your financial life. Financial security is the number one goal for planners, but college, […]

Can Sales Reps Claim to be Financial Advisors? – updated September 2014

You bet they can and they do. I checked the legality of the claim with FINRA, the SEC, and California (my state of residence) to […]

A New Player in the Financial Fiduciary Wars – Updated September 2014

A financial fiduciary are financial planners, investment advisors, and money managers who hold positions of substantial trust when they invest other peoples’ money. Investors are counting […]

The Three Most Important Questions You Should Ask a Financial Advisor

You need to know the financial services industry is made-up of sales representatives and financial advisors. They have very different roles, but most sales representatives camouflage their real role by telling you they are financial advisors.

Why is it important to know the real role of the person who wants to control or influence how you invest your assets? I am going to answer this question with a question. Would you knowingly select a sales rep to invest your assets? When asked this question, 96.4% of investors said they would not. That is why sales reps have to hide their real role, which is selling investment and insurance products for commissions. No one would buy from them.

How do they get away with it? Wall Street interests have spent hundreds of millions of dollars on lobbyists to make sure reps and financial advisors do not have mandatory disclosure requirements. It is up to you to ask the right questions and you have to know good answers from bad ones. […]

Financial Advice versus Financial Recommendations

Did you know there is financial advice and financial recommendations and the difference between the two may determine when you retire, how you live during retirement, and your financial security late in life?

So what is the difference between advice and recommendations? In the real world the answer is not much. I can advise you to do something or I can recommend you do something. There is no difference. However, there are huge differences in the world of personal financial advice that impact you.  […]