Are Brokers Being Punished for Not Pushing Enough Product?
For Immediate Release
June 04, 2011
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It’s obvious how Merrill’s move might help shareholders: More revenue produces more profit. But it’s harder to see the value for clients. The only way brokers generate commissions is by selling investment products. That means the brokers must constantly pitch new products to their clients. Is that compatible with the clients’ financial goals?
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Interesting? How do you see if your interests are aligned with those running your accounts?
Even if you’re just using your 401k to save for your retirement.
The company that “generously” provides your 401k is getting kick backs from the the fund company. The fund company is sticking you with fees and commissions that are probably illegal. And that’s just what we can “see”.
ENRON was a disaster for employees because they required you to contribute to your 401k and it had to go into their stock.
And, everyone was encourage to roll over their old 401ks into it. That’s how that pac tel guy managed to lose everything including his 1m$ 401k from his life’s employment with Pacific Telephone. Argh!
I admit I’m a bullion kinda guy. Silver, Gold, Nickels, Pennies, Platinum, Palladium … anything that you can hold in your hands. Even a can of beans!
You have to think that perhaps, just maybe, the 401k that your being offered maybe a “poison pill”. Especially if the Gooferment is gazing wistfully at the umpty ump trillions in “retirement savings”. Your “retirement” savings.
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