Are You Receiving Good Financial Advice?

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We need to rethink traditional financial advice – the kind that’s been delivered by those so-called “experts” focused on issuing buy/sell recommendations, executing transactions, selling annuities and collecting their commissions. If this is the type of financial advice that you are receiving you don’t need that and you probably never did. This most often received financial advice from a broker is full of conflict of interest, not fiduciary nor of any long term value.

So, what is “good ...

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Doing Due Diligence on Your Financial Advisor – Part III: Finding Right-Fitting Advice

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In the previous two Financial TIPs in our series, “Doing Due Diligence on Your Financial Advisor,” we offered some ideas on how to check out an advisor’s background, and why we would suggest that the first hurdle to overcome when selecting an advisor is to ensure his or her advice is of the highest, fiduciary standard. In this final installment, we’ll wrap up our discussion about fiduciary duty and offer additional qualities worth seeking in your current or ...

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Doing Due Diligence on Your Financial Advisor – Part II: Fiduciary

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In the medical profession, physicians practice according to a familiar standard: “First do no harm.” There should be a similar level of commitment for anyone who wants to advise you about your financial well-being, right? Unfortunately, wrong. Financial advice is subject to a double legal standard: “fiduciary” versus “suitable” advice. Worse, it’s up to you to spot the differences between them, and to heed the quality of the advice accordingly.

Fiduciary vs. Suitable: Different Incentives Drive Different Advice

Let’s ...

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Doing the Due Diligence on Your Financial Advisor – Part 1: How do You Know?

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It’s time to address a challenging subject: In selecting or retaining a financial advisor, how do you know if you’re making a wise choice?

It’s a challenging subject for us and one that we take very seriously as we develop and expand on our firm’s own best practices. We believe it is even more challenging for investors. First, the stakes are high. The quality of the selection, or lack thereof, can literally make or break your family’s fortune. ...

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