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Posts with tag brokers

Naked Truth Investing: Watch out for these signs on the road to financial perdition

by Dan Solin May 5th 2008

Filed under: Retire

This is the part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

The are many minefields for investors who want to save for retirement. Fortunately, the warning signs are clear. If you see any of these signs, you are driving on the road to financial perdition. Stop. Turn around and go in the opposite direction:

1. "This mutual fund has a 5-star Morningstar rating." It still is unlikely to beat an index fund with a comparable risk over the long term.

Tags: brokers, Dan Solin, DanSolin, investing, Retirement

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Naked Truth Investing: Would you go to a heart doctor who couldn't identify the aortic valve?

by Dan Solin Apr 14th 2008

Filed under: Extracurriculars, Retire, Saving

This is part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

I am sure you wouldn't entrust your health to a medical professional who didn't have a complete knowledge of her area of expertise.

Yet millions of investors rely on "investment professionals" who can't define risk, much less measure it. If you don't know the risk of your portfolio, you can't invest intelligently for retirement.

Tags: brokers, Dan Solin, DanSolin, Naked Truth Investing, NakedTruthInvesting, retirement, Standard deviation, StandardDeviation

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The difference between a financial adviser and a broker

by Zac Bissonnette Jan 7th 2008

Filed under: Retire, Ripoffs and Scams, Wealth

According (subscription required) to the Wall Street Journal, "Ignorance may indeed be bliss, as investors typically don't grasp the difference between brokers and financial advisers but are satisfied with the services they receive, a new study has found."

A big part of the problem is that almost no one calls himself a broker anymore -- Everyone is a financial planner, financial advisor, retirement planner, whatever other euphemism they happen to choose.

So what's an investor to do? The key phrase to look for is "Fee only". When hiring financial help, don't even think about hiring anyone unless you see that phrase? Why? You want to hire someone to give you advice -- not someone who is being paid on commission to sell you certain products, regardless of whether they're appropriate.

To find a fee-only advisor, visit the website for the National Association of Personal Financial Advisors.

Tags: advisers, brokers, financial planners, FinancialPlanners

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