Over the weekend an unfortunate story came out about a couple that was “bamboozled” by a financial advisor. An excerpt From Reddit: SO a week or two goes by. And I see a ~$30 charge go through for “disability insurance”. WHICH I TOLD HER I DIDN’T WANT!! And I just realize… this doesn’t feel good. It doesn’t seem right. She’s not listening to what … Continue reading 4 Steps To Avoid Being Ripped Off By A Financial Advisor in Michigan
About eight months ago, my wife signed us up for a new gym. It was the first time in years that we have been gym members, but she said that she got a great deal on Groupon and couldn’t pass it up. The gym isn’t your typical gym though, more like a boot camp in which I am actually paying to do more burpees than … Continue reading Financial Boot Camp
One of the first questions that I get from most prospective clients is, “What are your fees?” In a world in which you can get the fees, and reviews, for just about every product imaginable on Amazon, financial advisors still work in a world of secrecy. Try going to a financial advisor’s website, assuming they even have one, and try to find what services the … Continue reading It’s The Fees That You Don’t See That Should Scare You
I’ve written before about the 6 questions you must ask any prospective financial advisor, but asking questions is just not enough. Most people now will research a restaurant online before going to dinner. Shouldn’t you at least do the same due diligence on a potential financial advisor? Thankfully, there is a great website devoted to providing additional information on prospective financial advisors and brokers, called … Continue reading How To Use BrokerCheck Before Hiring a Financial Advisor
I’ve sat down with hundreds of potential clients in my career, and I’m always amazed how few questions I receive. Sure, I get the common question, “What are your fees?”, but almost nothing else. It appears to me that people spend more time researching a new washer and dryer, than a new financial advisor. Yet, choosing the right financial advisor is one of the biggest, … Continue reading 6 Questions you Must Ask a Potential Financial Advisor
So, you want an investment strategy with almost unlimited upside but limited downside risk? Let me tell you about the LowVol Retirement Income Maximization Investment Strategy. It is a covered call option strategy in which we use the income from selling the call to buy a put. Selling the call allows us to realize almost all of the upside and the put option limits the … Continue reading 4 Steps for Creating a Pre-Retirement Investment Strategy
If you go see a doctor, you know that you are working with someone with experience. To become a doctor you need to go through years of education and even more years of training before you can start practicing on patients. I’m not saying that all doctors are great at their job, but you at least know that the barrier of entry is high. This … Continue reading What do those letters behind my financial advisor’s name mean?