Comments on: What to do When You’re Screwed by a Broker or Financial Advisor

By: PH from Bad Credit Remortgage

PH from Bad Credit Remortgage — Fri, 08 Feb 2008 00:52:49 +0000

Great post. This problem has been slowly creeping into the UK market. Although regulated by the FSA a lot of ‘rogue’ brokers still manage to make a good living out of vulnerable people. Times are pretty tough here in the UK with a spin off of the sub-prime and it looks like the sharks are circling the most vulnerable borrowers. Shame on them!

By: Financial Guide

Financial Guide — Mon, 04 Feb 2008 10:23:17 +0000

Very nice post. Thanks for sharing

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Sun, 03 Feb 2008 23:04:35 +0000

[...] X Finance: This article hits home with me because my parents have been screwed by a rogue broker in the past. The guy decided to churn the [...]

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Prosper Roundup — Superbowl Edition — Sun, 03 Feb 2008 17:06:22 +0000

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By: MONEY CLIPPED » Money Clippings: Watch Your Back Edition

MONEY CLIPPED » Money Clippings: Watch Your Back Edition — Sun, 03 Feb 2008 01:57:50 +0000

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By: andy

andy — Sat, 02 Feb 2008 20:08:45 +0000

Churn butter, not stocks!

By: Money Crashing Articles Of The Week by Money Crashers

Money Crashing Articles Of The Week by Money Crashers — Sat, 02 Feb 2008 03:08:13 +0000

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By: Jeremy

Jeremy — Thu, 31 Jan 2008 18:58:17 +0000

Zook, it is a shame that so many people ruin it for the good guys. Part of the problem comes from the ability for virtually anyone to put the title of Financial Advisor or Planner or whatever on their business card. You have insurance brokers who take their Series 6 and can now sell mutual funds touting their financial planning services. Just like you have basic stock brokers who will use any title other than stock broker to make it look like they have all-encompassing expertise.

What if only people with CFPs could call themselves planners/advisors, and everyone else had to use the title “Investment Salesman”. I’m guessing there would be a lot of people out of work since anyone with average intelligence would rather not talk to a salesman about their finances.

By: Zook

Zook — Thu, 31 Jan 2008 18:49:14 +0000

There are plenty of financial advisers who don’t pull this baloney. I know it wasn’t even hinted at, but I feel it necessary to make the point for effect.

If you pass the CFP test and have passed all of the other exams and you won’t to be successful, you will WANT to tell your client where they can look you up online to verify. You will WANT to act on their behalf to make them life-long clients.

This is a no-brainer. I am amazed that so many fools out there ruin it for the good guys.

By: Working Dollar

Working Dollar — Wed, 30 Jan 2008 18:09:41 +0000

Hey Jeremy,

That’s a great point, especially about the fixed annuities; very true. The problem with annuities (esp. variable) is most investment companies, broker/dealers do a pathetic job of putting them together and presenting them.

Thanks again for the post.

Todd