So, When Is The Customer Recognition Trip?


Last year the WSJ conducted a study that estimated investors were overcharged by $250 billion dollars by investment advisers and investment managers.  Little wonder this happens with the  incredible complexity and opaqueness that conceal the total fees investors are actually paying.  And as further evidence that the “good times are back” for Wall Street, see this article from the WSJ.  

“Recognition Trips” are back and financial firms are spending exorbitant amounts to lavish attention and awards on top-producing advisers.  But let’s be clear - from the perspective of Wall Street, top-producing has nothing to do with client investment results.  It has everything to do with sales success.  You see, one of the unfortunate truths in the business of dispensing investment advice to individual investors is that neither the firms nor the individual investment advisers themselves actually know how they are doing for their clients.  

Seriously - ask any adviser how his clients have performed or how perhaps one of his model portfolios has performed and you will get a long discourse on why he doesn’t actually have any information on that critical subject.  

It is time to get investment advisers and their firms focused on their clients and what matters to them - the performance of their accounts.  GuardVest is here to make that all too sensible dream a reality. 

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