UnThreaded | Threaded | Whole Thread (52) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: Hawkwin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Wade Pfau: 3% is the new 4% SWR? Date: 3/3/2014 9:30 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
1) Because the rest of my financial situation is none of their business. I've even run into one who wouldn't even answer a question I had about mortgages unless he first knew all the details of my entire financial picture.

2) Their compliance department may be extraordinarily lawsuit averse, and not want to take on a client that may (in the eyes of a future lawsuit) be put into an "inappropriate" investment.


You can blame FINRA and the SEC for this.

https://www.finra.org/Investors/ProtectYourself/BeforeYouInv...

http://www.finra.org/web/groups/industry/@ip/@reg/@notice/do...

Even unsolicited trades now face this level of scrutiny.

If you are making your own trades, why use full service advisor? Why not just use an online discount broker where you won't be asked as many questions? They will still require you give the information up front but they won't ask you on every trade to justify your purchase.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (52) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement