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Get Wise to Your Advisor: How to Reach Your Investment Goals Without Getting Ripped Off by Steven D. Lockshin

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Contents

Preface

Chapter 1: Is This Any Way to Choose an Advisor?

Bad Financial Medicine

A Murky Industry

“You Should Meet My Guy”

Key Points

Chapter 2: Wall Street’s Dirty Secrets

The More Things Change . . .

“You Don’t Understand . . .”

Misplaced Interests

Brokers and Advisors

Wall Street Brokers versus Main Street Consumers

Peddling Products

Omission versus Commission

Key Points

Chapter 3: The Wall Street Whitewash

Image Is Everything

Shopping Shortcuts

Vegas Rules

Key Points

Chapter 4: Hold Your Nose: Other Advisor Options

Bank-Based Advisors

Private Banking and Trust Departments

Asset Managers

Insurance Salesmen

Fee-Only Planners

Other Options

Technology’s Triumph

Key Points

Chapter 5: The Case for Independent RIAs

The Trouble with Fee-Only Advisors

The Case for Independent RIAs

Buyer Beware

Do All RIAs Live Up to Their Title?

Disorienting Disclosure

RIAs: A Good Place to Start

Key Points

Chapter 6: Our Lazy Brains: Why We’re So Bad at Choosing Advisors (and Investing Our Own Money)

The Gut versus the Mind

Salesmanship 101

What You See Is All There Is

My Advisor Is Handsome, So Why Am I Broke?

Why We Stink at Managing Our Own Money

Key Points

Chapter 7: How to Be Your Own Investment Advisor

Don’t Let Costs Mug Your Returns

How to Win the Game by Not Playing

Software-Powered Investing

Math First, Emotion Second

Why You (Probably) Still Need a Financial Advisor

Key Points

Chapter 8: Choosing an Advisor: Know What You Don’t Know

You Are the Family CEO

Decoding your Advisor’s ...

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