A co-worker recently inherited about 100K. With no invesitng experience except contributing to her deferred account, she got a FP from a family member. He is managing the inheritence and told her how to move her deferred funds, but
*** she has signed a contract prohibiting her to discuss with others how he has invested her funds. She says it is so she can't share his investment wisdom suggestions with others who would use his expertise without his input
notions without getting paid.
Not surprisingly, she doesn't know how much his fees are, but says she is very happy with her returns last year. Heck, last year was probably good to everyone. I also wonder if she is looking at only $$ returns and not % returns, but I'm not going there.
I just shrugged and let it go, but a confidentity contract?! Is this common?
*** she has signed a contract prohibiting her to discuss with others how he has invested her funds. She says it is so she can't share his investment wisdom suggestions with others who would use his expertise without his input
notions without getting paid.
Not surprisingly, she doesn't know how much his fees are, but says she is very happy with her returns last year. Heck, last year was probably good to everyone. I also wonder if she is looking at only $$ returns and not % returns, but I'm not going there.
I just shrugged and let it go, but a confidentity contract?! Is this common?