Questions - E53

Monday - Questions - Four questions from listeners - Mutual funds or ETFs? - Why do you hate financial planners and financial planning? - Broker, Dealer, Advisor, Registered Representative, Investment Advisor Representative - There’s a huge difference - My guy says his AUM is a fee and it’s the same as FCF’s fixed cost investing. I want to become a client, what should i do? He says we’re on the same side of the table. Tuesday - SWAT - Sudden Wealth Awareness Training - Sports, Entertainment, Inheritance, Litigation, Lottery Wednesday - Business - You are a lifestyle business where business is a lifestyle Thursday - 3M - Minting Millionaire Mindsets - Minting Mature Mindsets - Minting Monumental Mindsets Friday - Current - Looking at people, places, and events from the past week with a critical eye on connecting dots. Saturday - Deep Dive - Sunday - Shows & Movies LINKS Slide rule Abacus Dinkytown.net Confessions Of A Former Financial Advisor: 5 Things I Didn't Tell My Clients The envelope system What is a fiduciary? What you need to know about financial planners NOTES A financial advisor who makes a living through commissions has a strong financial incentive to include life insurance, as some insurance companies pay rather well for selling their products. From the Financial Industry Regulatory Association website: “Financial planners can come from a variety of backgrounds and offer a variety of services. They could be brokers or investment advisers, insurance agents or practicing accountants—or they may have no financial credentials at all. Some will examine your entire financial picture and help you develop a detailed plan for achieving your financial goals. Others, however, will recommend only the products they sell, which may give you a limited range of choices.” The American consumer deserves better, and it begins by making sure that words have consistent meanings.