To of my new book, Bad Advisors: How to Identify Them; How to Avoid Them, on BDs and Securities licensed advisors, click here.
To of my new book, Bad Advisors: How to Identify Them; How to Avoid Them, on IMOs (Independent Marketing Organizations), please click here.
To learn more about the book and how you can purcahse one, please click here.
To learn about the many unique marketing tools the IMO has to offer advisors to help you provide the "best advice" and communicate to your clients you offer the "best advice,." go to www.strategicmp.net.
Why did I decide to write Bad Advisors?
Because there are so many bad advisors in various industries (insurance, finance, legal, accounting) and consumers (their clients) have no idea.
Because of the bad advice that’s been given to people over the years has collectively cost them billions of dollars in stock-market losses, because bad advice has cost people billions of dollars in unnecessary taxes (capital gains, dividend, and estate), because bad advice has placed almost all American’s money at risk to lawsuits, I figured it was time I stepped up and pulled back the veil in several industries to show people how bad the advice they’ve received really is and the consequences of the advice.
My new book, Bad Advisors, will tell people specifically what makes a bad advisor and how to identify one (so they can be avoided). Many advisors are not going to like my new book, and some will be offended by it. That’s good. Maybe it will make the offended bad advisors look in the mirror and help them decide that they need to do a better job.
Too few advisors provide “client-first” advice. Too many advisors put their own interests in front of their clients which has the intended or unintended consequence of costing clients money and putting their assets at risk.
What’s in the book?
There are several very interesting chapters including the one on IMOs. In addition to the IMO chapter, I’ll have a chapter on “captive” insurance agents (ones who are contractually obligated to sell one company’s product or are mentally captive (they choose to only sell one company’s product)). I’ll have a chapter on broker dealers where I will explain the hypocrisy in the security industry when it comes to all the regulations and constraints put on licensed advisors who say they are providing the best full- disclosure advice to their clients (when it is nearly impossible to do so because of all the limitations placed on such advisors).
I’ll have a chapter on “fee-only” advisors and one on sales systems such as become your own banker/bank on yourself, LEAP, circle of wealth, MF 101, etc.
Finally, the new book will have a chapter on real-life horror stories where I will have stories written by advisors who have seen bad advisors at work and had to clean up their messes when bringing on a new client.
The bottom line is that the book for many will be seen as a dirty little secret book so consumers can figure out if the advisors they are dealing with (or will be dealing with) are bad.
It is my belief that many “good advisors” will really enjoy the book and will applaud what I’m trying to do with it. Good advisors will have no fear in handing this to a potential client they are working with because doing so will be a terrific way to pick up that new client.