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Get wise to your advisor : how to reach your investment goals without getting ripped off / Steven D. Lockshin

Author
Lockshin, Steven D.
Published
Hoboken, New Jersey : John Wiley & Sons, Inc., [2013]
Physical Description
1 online resource
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Contents
Get Wise to Your Advisor: How to Reach Your Investment Goals Without Getting Ripped Off; Copyright; Contents; Preface; Chapter 1: Is This Any Way to Choose an Advisor?; Bad Financial Medicine; A Murky Industry; ""You Should Meet My Guy""; Key Points; Chapter 2: Wall Street's Dirty Secrets; The More Things Change ... ; ""You Don't Understand ... ""; Misplaced Interests; Brokers and Advisors; Wall Street Brokers versus Main Street Consumers; Peddling Products; Omission versus Commission; Key Points; Chapter 3: The Wall Street Whitewash; Image Is Everything; Shopping Shortcuts; Vegas Rules; Play Money., Disarming ComplexityMesmerizing Optics; The VIP Racket; Key Points; Chapter 4: Hold Your Nose: Other Advisor Options; Bank-Based Advisors; Private Banking and Trust Departments; Asset Managers; Insurance Salesmen; Fee-Only Planners; Other Options; Technology's Triumph; Key Points; Chapter 5: The Case for Independent RIAs; The Trouble with Fee-Only Advisors; The Case for Independent RIAs; Buyer Beware; Do All RIAs Live Up to Their Title?; Disorienting Disclosure; Soft Dollar Practices; RIAs: A Good Place to Start; Key Points., Chapter 6: Our Lazy Brains: Why We're So Bad at Choosing Advisors (and Investing Our Own Money)The Gut versus the Mind; Salesmanship 101; What You See Is All There Is; My Advisor Is Handsome, So Why Am I Broke?; Why We Stink at Managing Our Own Money; Key Points; Chapter 7: How to Be Your Own Investment Advisor; Don't Let Costs Mug Your Returns; Individual Stocks and Bonds; Actively Managed Mutual Funds; Index Mutual Funds; Exchange-Traded Funds; Hedge Funds; How to Win the Game by Not Playing; Software-Powered Investing; Math First, Emotion Second., Why You (Probably) Still Need a Financial AdvisorKey Points; Chapter 8: Choosing an Advisor: Know What You Don't Know; You Are the Family CEO; Core Principle: DUTY-Clients before Profits; Core Principle: SAFEGUARDS; Core Principle: PROFESSIONALISM; Decoding your Advisor's Answers Core Principle: DUTY; After the Interview; Key Points; Chapter 9: Fees and Ice Cream: Baskin-Robbins Got It Right, Why Can't We?; Chocolate and Vanilla; AUM-Based Fees; Commissions; Hourly and Retainer Fees; Baskin-Robbins 3 Flavors?; Key Pricing Ingredients (Building a Custom Sundae); Chapter 10: Change the Game., and Why Wait?Afterword: Advisors in Perspective; About the Author; Index.
Summary
The financial services world is changing. Technology is enabling an automated approach to investing that should bring down the cost of commodity services. No longer do you have to fund the lifestyle of a broker or advisor to have him tell you how to diversify or where to find the next investment that cannot be missed. This book will provide the tools for calculators that tell you most of what you need to know; from how much insurance you need to have to how you should diversify. The book will help readers with the following:/ ulliUnderstand what you have/liliPlan your long-term goals/liliStart to save (maximizing your 401k)/liliReduce debt/liliRun your Monte Carlo Simulation/liliDetermine the appropriate asset allocation/liliSet up your auto-rebalancing and periodically (annually, perhaps) re-examining your asset allocation to account for globalization/liliDeploy the asset mix through low cost, tax-efficient strategies/liliLook at it once per year/li/ul This book will provide a better understanding of your investment decisions. But, we all cannot be do-it-yourselfers. Advisors serve as an important resource for consumers when they are both capable and understand their duty to serve you, the customer, first. To complement their moral station, they must have the skills to deliver appropriate advice. The book, much like the company Steve founded, will simplify standards for consumers and audit advisors to those standards.
Subject(s)
ISBN
9781118700778 (electronic bk.)
1118700775 (electronic bk.)
9781299814684 (electronic bk.)
1299814689 (electronic bk.)
9781118698860 (electronic bk.)
111869886X (electronic bk.)
9781118700693
1118700694
9781118698846
1118698843
9781118700730 (cloth)
1118700732
Note
Includes index.
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