Financial Advice Gone Wrong: Confessions of an Investment Analyst

Fire your Broker! Fire your Financial Advisor! If you have money invested in mutual funds and other investments sold by broker-dealers Financial Advice Gone Wrong is a necessary read. Cory Richards was an investment analyst at a large U.S. broker dealer. He worked for over 10 years writing research reports and recommending investments to brokers and financial advisors. Cory finally quit after years of publishing tarnished and conflicted research reports that were manipulated by the broker dealer’s marketing department to sell overpriced poor-performing investments to their clients. All the while the client was blind to all of these conflicts.

Cory shares his stories of these inexperienced “salespeople” and how they try to deceive clients, make false representations, and just downright deceit toward clients. For the most part, it’s an accepted practice. There are ways around the slack securities rules, and the best salespeople always find the loopholes to take advantage of clients. Cory recommends a course of action for all investors looking to keep the brokers and financial advisors from “skimming” too much from their life’s savings. If you have a full-service broker or financial advisor looking after your life’s savings, you will want to read the stories and follow-up advice from Cory.