Suspect financial advisor is untrustworthy

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Sep 28, 2009 12:52 pm

Recently I have come to suspect that my financial advisor is untrustworthy.  I know little about investing, and I have trusted him completely.  I have been with him for years.

 
I have not watched over my assets.  I have left everything to him, as foolish as that may seem.
 
Now I would like to have a very close look at:
my current holdings
a record of changes in my holdings over time
a record of the fees that I have paid and why
 
Obviously, I want to prevent any further loss and find a trustworthy advisor now
 
Can you give me advice with this?
How to get a record of the past activity in my account?  (even though I may not be able to recover losses)
How to leave now, both quickly and in a way that prevents further loss.
How to find a truly trustworthy person quickly so that I can transfer my assets as soon as possible, while avoiding any further mistakes.
 
Thank you.
Sep 28, 2009 12:54 pm

This is a forum for people who are IN the business.  This is NOT a forum for the public.  No advice will be given.

Sep 28, 2009 4:10 pm

or maybe by Bryan -  this seems like a nice intro to why people need his website, to let clients check out advisors background while blackmailing us advisors into paying for his program.

Amma if this is real, you're an idiot. You lost money in the worst bear market in 75 years and your are complaining? Good luck finding an advisor that would touch you with anything less than a ten foot pole.

Sep 28, 2009 4:22 pm
Amma:

Recently I have come to suspect that my financial advisor is untrustworthy.  I know little about investing, and I have trusted him completely.  I have been with him for years.

 
I have not watched over my assets.  I have left everything to him, as foolish as that may seem.
 
Now I would like to have a very close look at:
my current holdings
a record of changes in my holdings over time
a record of the fees that I have paid and why
 
Obviously, I want to prevent any further loss and find a trustworthy advisor now
 
Can you give me advice with this?
How to get a record of the past activity in my account?  (even though I may not be able to recover losses)
How to leave now, both quickly and in a way that prevents further loss.
How to find a truly trustworthy person quickly so that I can transfer my assets as soon as possible, while avoiding any further mistakes.
 
Thank you.
 
You're asking a message board this without giving the name of the firm or any relevant info, rather than calling the 1-800 # thats on your statement?  Or the advisor?  What advice could we possibly give you that would be helpful? 
Sep 28, 2009 4:29 pm
In my years of helping clients, I have found that clients who did not previously trust their advisor don't make great clients right away. They can become good clients over time, but the transition process is not generally fun for client or advisor.
 
You can learn to trust again but first, do some research. You're asking good questions.
 
http://www.milyunair.com/
Sep 28, 2009 10:39 pm

methinks this is some sort of Bait.

 
Don't bite. Nothing good can come from it.
Oct 2, 2009 6:09 pm

AMMA is actually Windy's first doorknock account