Monday, August 31, 2009
Relationship Rehab, Washington-Style
WHEN IS A FINANCIAL ADVISOR NOT REALLY A FINANCIAL ADVISOR?
That's not a trick question. Harold Evensky, a Florida-based investment advisor, points to "feel good" ads run by one brokerage house in recent years showing a broker at the graduation of a client's daughter. "That suggests that the broker is always on your side, doing whatever it takes," Evensky says. "In fact, they are legally permitted to put their own interests first, and the obligation is on you to look out for your own interests..."
Barrons: Relationship Rehab, Washington-Style (Subscription required)
That's not a trick question. Harold Evensky, a Florida-based investment advisor, points to "feel good" ads run by one brokerage house in recent years showing a broker at the graduation of a client's daughter. "That suggests that the broker is always on your side, doing whatever it takes," Evensky says. "In fact, they are legally permitted to put their own interests first, and the obligation is on you to look out for your own interests..."
Barrons: Relationship Rehab, Washington-Style (Subscription required)
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