I have a bird’s-eye view into the many ways investors have been misdirected by their financial salespeople; but this past week I encountered a perplexing situation – which is rare, as I’ve seen a lot. In the past, the usual "suspect-behavior" has been selling investors expensive mutual funds and annuities when better, lower cost options existed. I’ve seen investors saddled with unnecessary surrender charges and no asset allocation strategy. In short, I’ve seen no rhyme or reason to the Read on...
Talkers Aren’t Walkers
When asked by strangers what I do for a living, nothing makes people recoil more than realizing my profession has to do with financial matters. If only they knew that, as a fee-only fiduciary, my role as a financial advisor is markedly different than what they have come to think of from a financial “professional.” I have had the following hurled at me by people who assume that all of us in the industry are alike: “Oh, you’re a salesman!” – Gender aside, no I’m not. Selling is as Read on...
The Devil Is in the Detail
As our sons started to dip their toes in online consumerism via eBay and Amazon, I realized it was time for an education. Armed with gift cards and trigger-happy index fingers, it was too easy to buy. They lacked the healthy skepticism smart consumers have. They would inadvertently buy an accessory to something, when they thought the main item was included, for example; or they were lured into knock-offs that they believed were real. Investing can be tricky like that, especially if you are not Read on...
Hang Up Your Bell and Your Worries
I can worry about lots of things if I let myself – I am a mother after all, so that is fused with my DNA. But one thing I’m really not worried about is an impending market crash. Why? Because that is what many people seem to be worrying about. To be clear, a correction is certainly possible; I have no crystal ball. But, being contrarian by nature, my reaction to what everyone is thinking is to move in the other direction. I’m not “making a statement” or being snarky; nor am I smarter than Read on...