We frequently blog here about what a fiduciary is and why that’s crucial information for investors to understand. So far in 2015, this is a topic that’s also received substantial media attention. Whether it’s been President Obama or SEC Chairwoman Mary Jo White, the fiduciary standard has probably received more attention this year than in… [Read More] A Different Take on the Uniform Fiduciary Standard Discussion
When it comes to financial advice, there’s a lot of ambiguity surrounding titles. The list is a mile long and includes names like: financial consultant, fee-based advisor, account executive, associate, financial advisor, investment adviser, financial planner, wealth manager, and on and on. A humongous mistake made by investors is assuming that all of these titles mean the… [Read More] Titles Matter Less Than Compensation Method
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. Unfortunately, these aren’t always the questions that get asked. What Should I… [Read More] Important Questions to Ask an Advisor
https://media.blubrry.com/invest/p/content.blubrry.com/invest/Fee-Based_Advisors_Working_for_You_or_Their_Firm.mp3Subscribe: Android | RSS“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 advisors taking the dually-registered route these days, it’s integral that you… [Read More] Fee-Based Advisors: Working for You or Their Firm?
https://media.blubrry.com/invest/p/content.blubrry.com/invest/Why_You_Need_to_Ask_How_Your_Advisor_is_Compensated.mp3Subscribe: Android | RSSLet’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 and move on. Two weeks later,… [Read More] Why You Need to Ask How Your Advisor is Compensated
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 review, brokers are held to a standard of suitability, meaning they can put their… [Read More] Dually-Registered Advisors: The Quasi-Fiduciary