Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
This is why FAs have such a bad rep
Old 02-06-2007, 07:02 AM   #1
Thinks s/he gets paid by the post
teejayevans's Avatar
 
Join Date: Sep 2006
Posts: 1,221
This is why FAs have such a bad rep

Financial advisers are earning a reputation as bad as politicians and lawyers.

http://money.cnn.com/2007/02/05/pf/e...ion=2007020517

Tom
__________________

__________________
teejayevans is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: This is why FAs have such a bad rep
Old 02-06-2007, 07:44 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,617
Re: This is why FAs have such a bad rep

Hey, many folks love variable annuities, so much so that they ask for them.
See, e.g. "Variable Annuities Get Sales Boost"
http://www.fa-mag.com/issues.php?id_...idArticle=1414
__________________

__________________
LOL! is offline   Reply With Quote
Re: This is why FAs have such a bad rep
Old 02-06-2007, 09:38 AM   #3
Dryer sheet aficionado
 
Join Date: Jan 2007
Posts: 29
Re: This is why FAs have such a bad rep

The instance cited underscores the need for the financial industry to clean up its act. It is very difficult to distinguish between a real "financial advisor" and salesmen. The couple involved are obviously very well educated (MDs & lawyers) but had no sophistication in dealing with an insurance shark. This couple may well be able to afford such a "lesson" but it doesn't make it right. Indeed, the next person dealing with such a shark may not be able to afford a lesson and may be financially ruined. While I hate to get into too much government regulation, maybe there needs to be a real law with real teeth that require purveyors of financial products to disclose all fees and commissions. I suppose that it is unrealistic but I wouldn't mind having a requirement that "advisors" selling financial products should have to put up a big sign on their desks saying that they are "salesmen" and will benefit personally from any advice provided or products sold.
__________________
rogerc1944 is offline   Reply With Quote
Re: This is why FAs have such a bad rep
Old 02-06-2007, 09:55 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: This is why FAs have such a bad rep

The guy is probably not an "advisor", just a insurance agent...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
The Biggest Misconception about FA's.............. FinanceDude FIRE and Money 32 12-10-2006 03:24 PM
bad gateway error mathjak107 Forum Admin 0 09-24-2006 03:57 AM
Nords! - We have good news and bad news!............ Cut-Throat Life after FIRE 16 09-13-2006 02:26 PM
55 Degrees Bad For House? TromboneAl Other topics 29 02-21-2006 05:05 PM
SWR in bad times sgeeeee FIRE and Money 37 02-16-2004 02:11 PM

 

 
All times are GMT -6. The time now is 04:58 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.