What if your Financial Advisor says President Obama is a Commie?

Mixing politics and investing is a horrible idea. What do you do if the person in charge of your hard- earned money is a rabid partisan? According to The Investment News a financial advisor ran into some regulatory issues. The advisor in question was accused of calling President Obama “evil.” He was also found to…

Bad Medicine for Public-Pension Funds

The worst cure for unfunded state pension obligations is high-fee hedge funds that underperform basic market indices. Unfortunately, many financial physicians are prescribing this very antidote to fix this combustible issue. Too many government pension fund boards are committing this act of monetary malpractice. According to Marc Levine’s article, “Fees that Sickly Public-Pension Funds Can’t Afford”…

How to Use a Teacher’s Lesson Plan to manage your Money

Without discipline, structure, and clearly defined goals, a middle school class will descend into chaos and anarchy. The same can be said for your financial plan. Being a former middle school teacher and a current fee-only financial advisor, I have a unique perspective on these matters. Establishing routine is essential to managing a classroom. If…

Surprise! Sixty Percent of Barron’s “Top Advisors” Have Regulatory Issues

Buying Twitter followers or Facebook friends is not a good plan for most businesses looking to attract clients. The reverse is true in regards to purchasing a spot on Barron’s Top Advisors’ list. The brokerage firm gains new clients, but investors lose big time. According to AdvisorHub, a whopping 60% of advisors on the Barron’s…

MetLife Does the Ol’ Bait and Switch with its Annuities

Variable annuities bring out the worst in the financial industry. They provide the perfect product to sell to an anxious public. The promise of safety and income guarantees often conceal a dark side of egregious fees and perverse incentives. Yesterday, Financial Industry Regulatory Authority (“FINRA”) shed some light on these unsavory practices. MetLife, the large…

Capitalists Invest in Human Ingenuity, Not Gold

The Scientific Revolution changed everything. After the year 1500, progress became a word that dominated the conversation. Trust in the people and ideas suddenly became cool. The foreign concept that the future would be better than the present began to take hold. Before science and the admission of ignorance became commonplace, business resembled a zero-sum…