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Von Aldo
FAs Under Scrutiny by the Mainstream Press

FAs Under Scrutiny by the Mainstream Press

my-financial-advisorI suppose you could blame it on Madoff (nah, there are tons of other charlatans out there), either way, I have been noticing more and more articles in mainstream publications about how to choose a financial advisor. Here is one such article of interest from the New York Times, otherwise known as the House Organ of the Far-Left Wing of the Democratic Party.

From the NYT: Now Douglas Black, a 30-year brokerage industry veteran, has started a firm called SpringReef Partners that will screen and select financial advisers for wealthy families. While the amount of wealth needed to receive his advice is high — from $5 million to $50 million — his approach can help those intent on evaluating an adviser to fit their needs. His advice may be aimed at the wealthy, but anyone with money to invest can adopt his practices.

“Firms don’t do a very good job of matching adviser capability with client complexity,” Mr. Black said. “They haven’t taken the focus away from the advisers in determining who is going to end up with whom.”

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