Advice is great, but how is your advisor really compensated and where are his conflicts?
Investment Advisors
Mutual Fund B Shares Face Extinction
The demonization of “B Shares” continues as even more mutual fund families drop this share class from the roster. From the Wall Street Journal: Lately, Goldman Sachs Group Inc., Allianz SE’s Pacific Investment Management Co. and American Century announced they would exit B shares. This accelerates a trend that has been gathering force since mid-decade….
Whither the Wirehouse?
Charles Schwab just conducted a poll of 200 financial advisors, all at full service firms (aka wirehouses). More than half had at least 10 years under their belts and the median assets under management was $84 mil. The prognosis was not a good one for the name-brand wirehouse firms… From Financial-Planning.com: Less than…
Setting the Record Straight Re: Bill Singer
I owe someone a major apology for something I wrote last week which was completely disingenuous to their standing and reputation in our industry. It all started when I read an article in Forbes that I felt was insulting to professionals in the brokerage and advisory industry. Since I’ve started my career, I’ve seen a…
