I’ve had people tell me that my profession is complex, and not understood by the average consumer. I would agree that it can be confusing and it could be simplified. That my friend is unfortunate and in my opinion the reason people have bad experiences. In my next several blogs, my goal is to simplify the choices you can make when it comes to picking a financial advisor or investment.
There are many things that confuses people in the financial advisory world. I’m going to try and cover each one and make it easy to understand. The investing public need to know the differences. Many advisors and their firms had rather for you not to understand. Why?….. because if people did understand what was going on, they would be making changes without hesitation.
Here are some of the topics that I will cover in my coming blogs. Independent advisor or Non-Independent, Fee based or Commission Based, Broker or RIA/IAR, Designations and what they mean, Trading Costs, Institutional or Retail, Fiduciary Duty or Suitable. What does ALL this mean?
After I’m done with this subject I hope each one of you that reads this blog can at the very least say you’ve learned a lot. I hope these blogs can make these areas of confusion clear for you in the future so you can make good financial decisions.