Greedy Trial Lawyer
Is Your "Financial Adviser" Over-Titled?
Category: Seeing Clearly Now
The free lunch you ate at the recent noon financial planning seminar may give you or your family severe indigestion.
Investment Pitches Prey On Elderly
Government officials worry that unscrupulous financial advisers are preying on retirees by calling themselves senior experts, using fancy titles to lure the elderly to marketing seminars and then locking up their savings in investments that carry high commissions and withdrawal fees.Federal regulators and authorities in seven states are set to release the results of an investigation of firms that run "free lunch" investment seminars, which draw large numbers of retirees. The results, said Securities and Exchange Commission Chairman Christopher Cox, are "deeply disturbing" and have produced multiple law enforcement referrals.
SEC leaders and their state counterparts will host a day-long summit Monday to discuss a nationwide approach to combating bogus yet official-sounding titles that salesmen use to curry favor with older investors.
From the washingtonpost.com
Tomorrow I am going to cancel my upcoming meeting with my Financial Analyst, Financial Adviser, Financial Consultant, Financial Planner, Investment Consultant, Mutual Funds Expert, Insurance Guru and Wealth Manager. My time may be better spent with a dart board.
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