To gauge the value of
anything, you need to hear from the detractors as well as the
supporters. My model of financial planning is creating ripples of
disruption within established Wall Street circles. Here are some of my
favorite comments from detractors.
• You’re a pessimist.
National Financial News Network in response to being asked whether there was
any data to support taking their seductive advice actually worked.
• I find you offensive.
“The Annuity Guy.”
• It is not in the best interests of the shareholders. Don’t contact us again.
Response from letter sent to “Independent” Board Chairman of a major fund
family regarding an opportunity to guarantee higher performance for
shareholders, irrespective of market performance. Chairman's part-time
job pays $800K annually.
• You are the guy that writes that ridiculous finance column…you’re wrong -
it’s easy to beat the stock market.
Former Portfolio Manager now selling real estate.
• You are not our kind of Financial Planner (click).
Insurance Company in response to asking how I could state I’d be putting my
clients’ best interests first, if selling the annuity that they were touting
would double my commission by locking the investor into more severe
surrender periods.
• I don’t like the way you do business.
Investment Advisor after showing his former client her underperformance versus
appropriate benchmarks.
• Your hourly fee model is flawed because you’ll never make a fortune.
Investment Advisor, possibly confused as to the investors' goals.
• “Dare to be Dull” is the worst slogan I’ve ever heard!
Multiple Advisors.
Thank you Wall Street -
keep them coming!
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