A lot of people ask me if we are in the insurance business. The answer is no. The insurance industry serves a vital function. However, anyone who earns a commission from the sale of a financial product (insurance, mutual fund, annuities, stocks, bonds, alternative investments, etc.) is legally obligated to serve and look out for the best interest of the company that pays them. . . NOT YOU! No matter what they tell you, they are bound by agency/principal law and must put the principals interest (company that pays the commission) before yours. Unfortunately, many new financial advisors and insurance reps dont even know this themselves. They are very subtly indoctrinated (addicted to the company kool-aid) and trained to believe they are serving their clients interests while competing for trips, awards, bonuses, promotions, and trying not to become an attrition statistic. Insurance can play a vital role in managing risk, but no one can serve two masters. Its biblical. We dont (do not) sell financial products of any kind. No insurance, no mutual funds, no annuities, nothing. We help people make smart decisions about retirement, social security, all kinds of insurance, estate planning, tax planning, business management, and financial markets. We manage individual and institutional trust accounts. We also manage portfolios of individual stocks, bonds, and real estate trusts. We are paid only by our clients for the service we provide and have a legal obligation to serve only our clients interests. We are not obligated to, nor do we accept payments (commissions) from insurance companies, mutual fund companies, or brokerage firms. You may have suspected from time to time that that your trusted advisor is not really looking out for you. If he/she works on commission, . . . you were right. Its a difficult pill to swallow since that person has spent a lot of time and money building a relationship with you and has earned your trust. Unfortunately, facts are facts. He/she is legally obligated to do what is best for his/her employer, not you. The only way you get an advisor who works for you is to get off the free lunch and golf bandwagon and hire a fee-only Registered Investment Advisor. Technology has changed the world and the financial services industry is no different. Our services were once reserved for very wealthy or institutional investors. Todays automated analytical, trading, and outsourced back-office service platforms give even a small company the scale and efficiency to offer institutional services without big minimum account balances and a huge staff. Come see us. Learn what its like to really have a friend in the business. Youll be glad you did.
Posted on: Fri, 19 Sep 2014 20:24:17 +0000