Financial Advisers: What Do They Do
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A recent study found that most US households with $100,000-$500,000 in assets do not have a formal retirement plan and have not spoken to a financial advisor. Many people do not contact an advisor due to fear, lack of trust, or not wanting to appear unintelligent. The podcast discusses different types of financial advisors and how they are paid, such as fee-only, commissions, or a mix of fees and commissions. It cautions listeners that the podcast is not investment advice and to consult an advisor before making investment decisions.
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Financial Advisers: What Do They Do
- 1. Mullooly Asset Management Podcast October 24, 2012 Mullooly Asset Management October 2012
- 2. Alarming Stats Most households in US with $100,000-$500,000 in assets have no formal retirement plan Many have not even spoken with a financial adviser According to a Cerulli Associates study released October 2012 Mullooly Asset Management October 2012
- 3. Why is That? Some can handle things on their own People are untrusting of the stock market Recent Wells Fargo survey showed 70% of surveyed people NOT confident in stock market A lot of people simply “guess” on what amount they will need to retire Mullooly Asset Management October 2012
- 4. Why Don’t They Contact an Adviser? Fear No Trust Don’t want to appear unintelligent Mullooly Asset Management October 2012
- 5. Different Types of Financial Advice Wealth Manager Financial Planner (fee-only planner, hourly fee planner) Investment Planner Money Manager Mullooly Asset Management October 2012
- 6. Where Does the Adviser Work? Wall Street firm: employee (sales person) Independent: adviser does not work for a broker Dual-Registered Mullooly Asset Management October 2012
- 7. How is the Adviser Paid? Fee-only Commissions Fees and Commissions Mullooly Asset Management October 2012
- 8. None of the securities mentioned in this (or any) podcast or video represent past specific recommendations of Mullooly Asset Management. This video is NOT a recommendation to buy or sell any of the securities mentioned here. If you’re relying on a podcast for investment advice, you are likely making a huge mistake. We strongly urge our listeners to consult with their investment advisor before they make a decision to buy or sell any investment. Mullooly Asset Management October 2012
- 9. Mullooly Asset Management, LLC support (at) mullooly (dot) net 732-223-9000 www.mullooly.net Mullooly Asset Management October 2012