This is a trust based industry. What I mean by that, from the advisors perspective, we are taught to use psychological manipulation, using different tools to manipulate clients.
What is being done with that trust in our country is despicable.
- It is legal in our country for someone to put you into inferior investments, lower paying annuities, or the lowest paying life insurance policy currently on the market
- It is legal for someone to give you the worst policy or annuity on the market and make a commission
- It’s legal for you to be steered into mutual funds, not because they are best for you but because the company you chose to work with is one of the lower quality companies who partners with just a few mutual funds through a revenue sharing agreement, and they will steer you into just the mutual funds that will give them a kickback instead of what is best for you
- What is being done with the trust, advisors are actually earning because you are deciding to make this about trust instead of what is best for you and your future
Every single financial plan I review, within 2-5 minutes, I can find where some advisor has steered you into something that was not best for you or hid something from you
I will teach you something in this podcast.
You do not need to trust anyone. I am going to teach you how to build a great retirement plan without an advisor. You should be 90% through the entire planning process before you involve a professional.
It’s clear, every decision you need to make in financial planning and retirement I’m going to make clear in the Renovating Retirement Podcast.
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