The term "Best Interest" and TIPS should never be uttered in the same paragraph. When you are buying TIPS, you are lending to an entity that is 37 trillion dollars in debt, and you are using government math to protect you from government math. The only word I can think of is "silly."
While I agree the answer is a resounding "No", I think the planning and portfolio construction philosophy / tools utilized are tertiary to the real problems.
1) Conflicts of interest (regardless of whether they are disclosed) and complex fee/compensation structures. The truth is, some reps still churn accounts for commissions, double dip in brokerage commissions / concessions and advisory fees and ultimately consistently prioritize their own paycheck.
2) The regulators aren't (or can't) do their jobs. Take FINRA... Show me an Enforcement action (hint there aren't many) where they have actually gone after sales practice issues that wouldn't have already been addressed by excessive trading / reasonable basis suitability standards. Reg BI simply isn't being enforced.
Furthermore, FINRA, as demonstrated by its FINRA Forward initative, is doing everything it can to shift the narrative away from member firm misconduct and enforcement. For unscrupulous firms / reps its open season on investors, unfortunately.
I ask ones again to united state and official please don't forget who is had mission shoulder to shoulder with USA forces in Afghanistan. But now we are left behind. My advocacy will continue until USA president trump hear our voices.
I’m wondering what you think about using Maxifi for younger people doing retirement savings. I’m 39 and my wife is 37. We are following pretty standard vanguard index fund advise during the accumulation phase. You approach make intuitive sense to me, but it feels like the planning is a step above what I am doing. How should a younger investor practice your strategies?
The term "Best Interest" and TIPS should never be uttered in the same paragraph. When you are buying TIPS, you are lending to an entity that is 37 trillion dollars in debt, and you are using government math to protect you from government math. The only word I can think of is "silly."
Unless, of course, you are 90 years old.
While I agree the answer is a resounding "No", I think the planning and portfolio construction philosophy / tools utilized are tertiary to the real problems.
1) Conflicts of interest (regardless of whether they are disclosed) and complex fee/compensation structures. The truth is, some reps still churn accounts for commissions, double dip in brokerage commissions / concessions and advisory fees and ultimately consistently prioritize their own paycheck.
2) The regulators aren't (or can't) do their jobs. Take FINRA... Show me an Enforcement action (hint there aren't many) where they have actually gone after sales practice issues that wouldn't have already been addressed by excessive trading / reasonable basis suitability standards. Reg BI simply isn't being enforced.
Furthermore, FINRA, as demonstrated by its FINRA Forward initative, is doing everything it can to shift the narrative away from member firm misconduct and enforcement. For unscrupulous firms / reps its open season on investors, unfortunately.
Sad state, indeed. My best, Larry
I ask ones again to united state and official please don't forget who is had mission shoulder to shoulder with USA forces in Afghanistan. But now we are left behind. My advocacy will continue until USA president trump hear our voices.
I’m wondering what you think about using Maxifi for younger people doing retirement savings. I’m 39 and my wife is 37. We are following pretty standard vanguard index fund advise during the accumulation phase. You approach make intuitive sense to me, but it feels like the planning is a step above what I am doing. How should a younger investor practice your strategies?