Business Advisor, Author, and Host of The Financial Coach Radio Show, Exposes the Latest Lies Being Peddled to 401k Plan Providers and Business Owners
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As Bryan puts it, "There is a wave of misinformation directed toward placing investors in a helpless position where they are essentially bullied into feeling the need for direction by financial advisors who are pushing products, such as mutual funds. This misinformation includes everything from cleverly worded advertisements that tout past performance as a form of security for future returns, to misleading titles of the financial advisors themselves that make these financial product pushers seem more credible than they really are."
Bryan cites a recent
"Yes, that's a good starting point," Bryan advises, "But the rabbit hole is much deeper than that. There are numerous titles financial salespeople are hiding behind, but simply placing blind trust in an individual who holds the title of a registered investment advisor is not nearly enough protection. In my book, The 401k Conspiracy, I outline the importance of working with FEE ONLY registered investment advisors. The brokerage industry has come up with yet another slick new title called the fee-based advisor that can actually wear one hat and act as a fiduciary but then switch hats to sell loaded mutual funds, annuities or bonds to earn a commission. I believe that anyone who earns a commission can't remain loyal to the best interest of the investor."
Another current problem that Binkholder discusses in his book, is the fiduciary duty when it comes to company 401k plans. "Many business owners are not aware they are placing themselves in a dangerous position with the type of 401k plans they are offering their employees. If you're in charge of your company plan, you have what the law calls a 'fiduciary responsibility' with the participants in that plan. This fiduciary duty is a legal or ethical relationship that can hold you personally liable for excessive fees, unsafe investments, or other inadvertent breaches of your fiduciary duty."
"That's why
The 401k Conspiracy is available on The Financial Coach Website and includes information and resources designed to place plan sponsors and employers on the right path for the upcoming year.
About
Also known as The Financial Coach, Bryan hosts a nationally syndicated radio program, The Financial Coach Show, which sheds light on current investment issues, exposes deceit and brings clarity to the often intentionally clouded industry.
Author of 7 Deadly Traps of Investing and The 6 Pitfalls of Retirement Planning, Bryan's determination to be a voice of change has earned him a respected reputation as a Watchdog of the Industry. His investment advice and opinions on the industry have been quoted in Forbes,
About
As a Registered Fiduciary™, Jim is part of an elite group of financial service professionals who are set apart from the conflicts of interest which have polluted the financial advisor/client relationship. Learn more at Blue Ocean Portfolio's Website, or by calling 636-530-9393.
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