Thinking about investing, but not the sort to jump in on your own? Be careful about your financial advisor. From a Motley Fool newsletter:
There are lots of people out there trying to sell annuities, and some of them engage in misconduct. A recent study examined the records of more than a million financial advisors and former financial advisors between 2005 and 2015 and found that 7% of them (that’s about 87,000 people!) had been disciplined for misconduct or fraud. The top complaints were unsuitable advice (21.3%), misrepresentation (17.7%), unauthorized activity (15.1%), omission of key facts (11.6%), fees/commissions (8.7%), and fraud (7.9%), and the specific products involved in the most misconduct were insurance (13.8%), annuities (8.6%), stocks (6%), and mutual funds (4.6%). You’re not likely to experience trouble, but it’s good to be careful.
Do a little research.
