Money managers
143 RepliesJump to last post
I'm glad to notice that you're no longer with a B/D. Following a trend of those who THINK to get away from FINRA? What ever will you do if you can't sell a VA? I suppose the investing public will be happier.
Nice website btw. I didn't see your picture on it. Don't you think it would be appropriate to post so you don't scare women and children when you see them for insurance coverage?This is killing me--this is the second question to which Richard replied "I get back to you after I finish reading blah blah"...c'mon, are you f***ing kidding me?? You're incapable of forming a unique thought. Your plan is to create this exceptional portfolio managment service based on the latest book you've read? My lawn guy was just telling me about his portfolio he "built" from the Motley Fool news letter--are you more "qualified" than he?[/quote][quote=max]
I’m taking a look at the GIPS site now. I’ll get back to you on your question. Thanks for your input.
Please read what I write before you attack me. The book I'm reading is on investment performance measurement not portfolio management. Does everyone here have a reading disability?
[quote=Frank W. Abagnale]
I’m glad to notice that you’re no longer with a B/D. Following a trend of those who THINK to get away from FINRA? What ever will you do if you can’t sell a VA? I suppose the investing public will be happier.
Nice website btw. I didn't see your picture on it. Don't you think it would be appropriate to post so you don't scare women and children when you see them for insurance coverage?[/quote]Thanks. I can't believe how much better I felt, immediately after resigning. Thanks for caring, but I think I'll be able to find something to sell. That's how we Top Gun Producers roll.
[quote=etj4588]
[quote=max]But, a fee based adviser doesn’t depend on product sales to generate revenue, a commission based rep does. Why do you think there are regs against churning? Because salesmen have an incentive to place their own interests above the client’s.
[/quote]
That incentive does not solely reside in the commission-based world. I have personally witnessed fiduciaries get too aggressive in retiree portfolios in the hopes of raising AUM through market growth. The incentives are the same - to make more money - with either type of advisor.
[/quote]
I never said ALL advisers are ethical. The incentives are not the same. The fee based adviser can continue to receive revenue with a buy-and-hold approach and the salesman cannot. It’s that simple.
[quote=Sportsfreakbob][Quote] Because I will be offering performance to distinguish myself from other advisers, a track record is essential. [Quote]
Max, I just gotta say, you are a clown. What are you a prophet? Think this thru. Think what you are saying. You probably made a good call in mid 2007, and now you are the prophet Mohammed. Did anyone say, Elaine Garzarelli? I dont post much here as i used to, but i just had to say, Max, you are a clown.[/quote]
You don't know me sportsfreak. You don't know if I have skills or not. You are simply projecting. You can't beat a benchmark and none of the boiler room guys you know can beat a benchmark so you assume it can't be done. You are wrong.
Resigning…? I can’t believe I didn’t catch that before.
Was it a "voluntary" resignation? Somehow I get the impression that it wasn't. Care to share?[quote=Frank W. Abagnale]Resigning…? I can’t believe I didn’t catch that before.
Was it a "voluntary" resignation? Somehow I get the impression that it wasn't. Care to share?[/quote]I'm sure it's hard to catch when you're thinking up new lies about the business that you are doing.
[quote=Frank W. Abagnale]Thanks for the plug of my website! You know that every time the name is mentioned, I get people to come over and join, right?
I hear you've tried that before...?[/quote]I've got people that tell me everything that goes on on your site. I'll find out how many new members join and then I'll call you out for lying, again.
What got you barred from the securities industry?
[quote=DHK]
I’ve got people that tell me everything that goes on on your site. [/quote]
At least he has something going on at his site to tell about. Yours, on the other hand died a slow whimpering death and nobody even noticed. Least of all you.
[quote=Morphius]
[quote=DHK]
I’ve got people that tell me everything that goes on on your site. [/quote]
At least he has something going on at his site to tell about. Yours, on the other hand died a slow whimpering death and nobody even noticed. Least of all you.
[/quote]
You’re next.
Now who would be doing something like that? Lies? I don't have time for lies. The truth is far more fun. No more time for you today "DHK". Gotta go take an app.[/quote][quote=DHK] I’ve got people that tell me everything that goes on on your site.
You take apps for United Bank Card?
OOOOHHH... is this when I'm supposed to be scared and wait for the theme music to play? Let's get the violins out because Bobby's site has died! And Bobby doesn't know how to play nice in an online playground! Did your mommy abuse you when you were growing up? Daddy sexually molest you? Lots of bullies to cause you to eat more, exercise less and make you run into hiding from REAL people so you can pick on others online? If you got out from your computer every once in a while and did a jumping jack, you could cause the "big one" in California! You lazy fat ass bastard! LET'S GO, YES?[quote=Morphius] [quote=DHK] I’ve got people that tell me everything that goes on on your site. [/quote]
At least he has something going on at his site to tell about. Yours, on the other hand died a slow whimpering death and nobody even noticed. Least of all you.
[/quote]
You’re next.
So as an investment advisor, if a single premium immediate annuity is appropriate for a client, how will you deal with it as an AUM advisor? Because you get paid by how many assets you have, wouldn't moving money to a SPIA not be in your best interest as an advisor? Isn't that a conflict of interest?[quote=etj4588] [quote=max]But, a fee based adviser doesn’t depend on product sales to generate revenue, a commission based rep does. Why do you think there are regs against churning? Because salesmen have an incentive to place their own interests above the client’s. [/quote]
That incentive does not solely reside in the commission-based world. I have personally witnessed fiduciaries get too aggressive in retiree portfolios in the hopes of raising AUM through market growth. The incentives are the same - to make more money - with either type of advisor.
[/quote]
I never said ALL advisers are ethical. The incentives are not the same. The fee based adviser can continue to receive revenue with a buy-and-hold approach and the salesman cannot. It’s that simple.
OOOOHHH... is this when I'm supposed to be scared and wait for the theme music to play? Let's get the violins out because Bobby's site has died! And Bobby doesn't know how to play nice in an online playground! Did your mommy abuse you when you were growing up? Daddy sexually molest you? Lots of bullies to cause you to eat more, exercise less and make you run into hiding from REAL people so you can pick on others online? If you got out from your computer every once in a while and did a jumping jack, you could cause the "big one" in California! You lazy fat ass bastard! LET'S GO, YES?[/quote][quote=DHK] [quote=Morphius] [quote=DHK] I’ve got people that tell me everything that goes on on your site. [/quote]
At least he has something going on at his site to tell about. Yours, on the other hand died a slow whimpering death and nobody even noticed. Least of all you.
[/quote]
You’re next.
Please sign out and sign back in as morphius. It will keep things much less confusing.
"I never said ALL advisers are ethical. The incentives are not the same. The fee based adviser can continue to receive revenue with a buy-and-hold approach and the salesman cannot. It's that simple."
Instead, you just implied that registered reps are snake oil salesmen and fee-based adviser's are fiduciaries who do what is in the best interest of the client because they are legally bound to do so. You do realize that if an advisor is fee-based as opposed to fee-only, that means that they are able to earn commissions and are snake oil salesmen?
If you are charging strictly based upon AUM, and I think this is what you said that you would do, won't you personally lose money every time that you have a client buy or sell something? Therefore, you have a disincentive to change positions even if it is best for the client. If an advisor is earning money strictly from AUM fees, doesn't he lose money every time that he recommends that his client pay off debt, put money in savings, buy a SPIA, buy life insurance, buy disability insurance, buy long term care insurance, reinvest it in his business, etc.So as an investment advisor, if a single premium immediate annuity is appropriate for a client, how will you deal with it as an AUM advisor? Because you get paid by how many assets you have, wouldn't moving money to a SPIA not be in your best interest as an advisor? Isn't that a conflict of interest?[/quote][quote=max] [quote=etj4588] [quote=max]But, a fee based adviser doesn’t depend on product sales to generate revenue, a commission based rep does. Why do you think there are regs against churning? Because salesmen have an incentive to place their own interests above the client’s. [/quote]
That incentive does not solely reside in the commission-based world. I have personally witnessed fiduciaries get too aggressive in retiree portfolios in the hopes of raising AUM through market growth. The incentives are the same - to make more money - with either type of advisor.
[/quote]
I never said ALL advisers are ethical. The incentives are not the same. The fee based adviser can continue to receive revenue with a buy-and-hold approach and the salesman cannot. It’s that simple.
I never said a fee based adviser has no incentive to violate his fiduciary obligations. Just less incentive than a salesman.
Never heard of Bernie, huh? A crook is a crook is a crook.
I never said a fee based adviser has no incentive to violate his fiduciary obligations. Just less incentive than a salesman.