Did you know that anyone can call themselves a financial planner? Did you know that all “financial planners” aren’t required to always act in your best interest? Did you know that some financial services professionals are incentivized to not do what’s best for you? Those who do things the right way in the financial planning industry can receive a bad rap because of those who act unscrupulously and don’t treat clients how they should. However, there are many who ALWAYS put their clients’ best interests first.
Fiduciary
Free Steak Dinner
3 minute read
A couple of days ago, The New York Times published a story about an insurance salesman who sent mailers to older people preying on fear of the stock market and advertising a free steak dinner if they attended his seminar. The insurance salesman made his pitch during the dinner using shady, outdated information that did not provide an accurate depiction of the product that he was selling to those in attendance. Unfortunately, this wasn’t the first time he’d done something sneaky and probably not the first time you’ve heard a story like this, but it may have been the first time a personal finance writer attended one of his dinners and called him out for it through a worldwide news outlet.
What is (Who is) a Fiduciary?
< 1 minute read
Have you ever heard the word “fiduciary”? There’s a big fight over this word in Washington right now regarding the Department of Labor Fiduciary Rule.
