So you've found an investment advisor you're potentially interested in working with, sounds great. What are the important questions you need to ask him or her before getting started? As an advisor, I know a few questions that investors absolutely need to ask....
"Fee-based...fee-only...same thing, right?". We've heard this before, and if it sounds correct to you then the brokerage industry's obfuscation has succeeded. Just last week, Tom and Brendan discussed why you need to ask how your advisor is compensated. With so many...
Let's lay out a hypothetical situation here: You haven't been feeling well and decide that a trip to your doctor is in order. After describing your symptoms to the doctor, they decide to prescribe you Drug A for treatment. You thank the doctor, fill your prescription...
We frequently discuss the differences between brokers and investment advisors here at Mullooly Asset Management. Whether it's in our posts, on our podcasts, or in our videos, you've likely heard our opinion before, and know that we're fee-only investment advisors. To...
Here's a topic we never grow tired of talking about at Mullooly Asset: the fiduciary standard we have to our clients as registered investment advisors. To refresh your memory a fiduciary has the legal obligation to put your interests ahead of their own or their...
You've probably heard or read us talk about the fiduciary standard we have to our clients here at Mullooly Asset Management. I read an article from the New York Times over the weekend that echoed a lot of the same sentiments we typically share here on the site. The...
We have yet another example of differences between fiduciary investment advisors and brokers. We recently discussed how the “game plan” at so many big brokerage firms had been to “wrap” folks up into mutual funds. Often these are funds that generate great fees, but...
It is astounding how many investors don't know what a fiduciary obligation is. In this video Tom and Brendan talk about fiduciary obligation and what it means. Investment advisers have a fiduciary obligation to their clients. This means that they must exercise...
This week on the Mullooly Asset Management podcast Tom and Brendan talk about the big differences that exist between investment advisors and brokers. The first step in understanding the differences between the two comes from knowing what a fiduciary is. Tom explains...
How does an investment advisor exercise his fiduciary obligation when the client wants more return, but does not want more risk? A year ago I started working with a retired school teacher, 79 years old, with a $50,000 CD that had just matured at the bank. He reviewed...
