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Financial Advisors: Who's Who and What Do They Do
Manage episode 439783635 series 3587117
Keli Alo & Mark Robinson, Keli Alo, and Mark Robinson에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Keli Alo & Mark Robinson, Keli Alo, and Mark Robinson 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Ever wondered why your financial advisor recommends certain products? Join us on Bullshit on Stilts as we unravel the confusing world of financial advisors and insurance agents. We start with a deep dive into the various roles within the financial services and insurance industry, decoding titles like registered representatives, investment advisors, and wealth managers. We'll also shed light on insurance agents, contrasting the limited options of exclusive agents with the broader choices offered by independent agents. Learn about the standard of care these professionals owe their clients and why "reasonable care" often falls short of a fiduciary duty.
Next, we shift our focus to the intriguing world of investment brokers and their compensation structures. What's the real difference between commission-based and fee-based models? And how do Registered Investment Advisors (RIAs) and Independent Advisor Representatives (IARs) fit into the picture? We'll also explore the critical role of fiduciary duty, backed by regulatory oversight from authorities like the SEC. Using the infamous Bernie Madoff scandal as a cautionary tale, we highlight the pitfalls of relying solely on fiduciary status for trustworthiness and professionalism.
Finally, we demystify the alphabet soup of financial certifications and roles. From Chartered Financial Consultant (ChFC) to Certified Financial Planner (CFP), we explain what these designations mean for you. We also discuss the potential conflicts of interest that arise when professionals hold multiple licenses, such as when insurance agents double as brokers. By understanding these distinctions, you'll be better equipped to evaluate the advice you receive and ensure that your financial goals are met with integrity and professionalism. Tune in for a blend of serious analysis and lighthearted banter that aims to keep you both informed and entertained.
Developing your financial bullshit sniffer one episode at a time.
챕터
1. Financial Advisors: Who's Who and What Do They Do (00:00:00)
2. Financial Professionals and Their Roles (00:00:50)
3. Insurance Agents (00:01:39)
4. Registered Representative or Broker (00:06:28)
5. Investment Brokers and Compensation Structures (00:14:53)
6. Registered Investment Adviser and Investment Adviser Representative (00:15:54)
7. Fiduciary Standard of Care (00:17:37)
8. Certifications and Designations (00:23:15)
9. The difference between Adviser with an E vs. Advisor with an O (00:25:54)
10. The Hat Trick Advisor (00:28:28)
11. Summing it up (00:30:29)
15 에피소드
공유
