By James E. Wilson via Iris.xyz
Are you still using a stockbroker or insurance salesman, (yea, I know…wealth manager)?
Here are seven things you’ll never hear them say:
- “Do you know that you can invest in the the same funds outside of the variable annuity at a much lower cost?”
- “Despite the Financial Consultant or Wealth Manager title, I still don’t have to act in your best interest.”
- “The B shares you just bought don’t have an initial front end sales charge, but the high annual expenses and back-end commissions will make up for that.”
- “Sure, our firm employs a couple hundred analysts, but their actual track record at picking stocks is less than the overall market.”
Click here to read the full story on Iris.xyz.