Posts Tagged ‘sales commissions’

• Changing stockbrokers? Don’t reward the bad guys.
• POSTED 02.15.10

If you’re unhappy with your stockbroker, and move your account to another firm, don’t sell your securities before you leave. That gives the bad broker a huge good-bye present, in the form of a mountain of sales commissions. My friend Tom Benson, who analyzes customer accounts for improprieties, says he’s currently handling a case where [...]

• Why you get bad investment advice
• POSTED 01.24.10

Sales commissions drive the “advice” you get from brokers and other financial advisers. They promote products that pay them the highest commissions, even when they know about better (and cheaper) ones. Case in point: a story in Investment News on the newest tax-deferred annuities. These investments are notoriously expensive for consumers (although you rarely know [...]