MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Scott Burns: The One Million Financial Advisers Problem

TedTed
in Off-Topic
FYI: It happened in September, during a long layover in the Atlanta airport. Waiting for the next leg, an overnight flight to Paris, I start talking with a man seated across from me. A retired chef, he’s lively, colorful and talkative. His wife, seated nearby, is younger and quieter.

I ask if she is retired like her husband.

“No, I’m a financial adviser. I help people make good plans for retirement,” she says. Then she returns to her Kindle.
Regards,
Ted
https://assetbuilder.com/knowledge-center/articles/the-one-million-financial-advisers-problem

Comments

  • catch22catch22
    edited November 2015
    Annuity "conflict" link from Ted's linked article:

    http://www.warren.senate.gov/?p=press_release&id=989
  • BobCBobC
    Oh, yeah. This is part of the reason there are so many annuity sales. That and the big up-front commissions, of course. I cannot stress enough the importance of working with a fee-only advisor.

    I found this especially galling, since my wife and I did a Viking cruise last year. The difference...we paid for ours. My guess is that this so-called advisor had to sell a TON of annuities to her poor clients to get such a bonus. Yes, it should be illegal. No, it won't happen anytime soon. The insurance industry has deep pockets.
  • PRESSmUPPRESSmUP
    Hi Bob,

    To jettison this thread even more off topic....how did you like the Viking cruise? The extended family did an Italy trip earlier this year, and Viking came up in conversation as a future...so opinions would be appreciated.

    thanks
Sign In or Register to comment.