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Who Can You Trust With Your Money?: Get the Help You Need Now and Avoid Dishonest Advisors by Bonnie Kirchner - CFP, MST

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Chapter 17. Activity

When it comes to financial programs and products, activity can be beneficial but also can be detrimental to the growth of your financial investments. Activity can sometimes be used as a synonym for the word churning (excessive trading of investment products). If you are a purchaser of fixed or variable life insurance, fixed or variable annuities, other types of insurance, mutual funds, stocks, bonds, and/or other investment products and your advisor regularly recommends replacing your existing programs with others similar to what you already own, it is possible he or she is participating in the practice of churning. Churning is an unethical activity employed by some advisors to increase earned commissions; thus, it does ...

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