Ep 42: What We Wish You Knew About the Financial Industry

As financial professionals, there are things that we wish everyone knew and understood about the financial industry. Today we are going to share some of the tricks that sometimes get played and how to spot them.

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On this episode of The Retirement Huddle podcast, Mark Howard shares some of the financial tricks you need to look out for and what he wishes you knew about financial professionals.

Tricks in financial marketing

We wish everyone knew how to recognize the tricks that sometimes get played in financial marketing when it comes to the rate of return in investments. It is a manipulated number by Wall Street, which uses some Wall Street math.

Another trick involves losses. They don’t talk about the true numbers. All that matters is what’s in your account. If you have a 30% loss in your portfolio, it takes a 43% gain to get you back to where you were.

Fees

We wish everyone knew what they’re truly paying for their investments. Let us do a free, no-obligation fee analysis for you. Many people ask their advisors how much they’re paying in fees, and they get a roundabout answer.

Most people are just floored when we do a fee analysis and find out they’re paying 4% in a variable annuity or 2% in a mutual fund.

Risk potential

We wish everyone knew what their real risk potential was in their portfolio. Everybody needs to understand what their risk score is. Bring your portfolio and statements, and we’ll do a risk analysis for you that scores you between 0 and 100.

Listen to the full episode or use the timestamps to jump to a specific section. Thanks for listening! We’ll be back for another show every other Thursday.

Today’s Rundown:

[1:01] Financial marketing

[4:16 ] Fees

[6:34] Risk potential

[9:04] Tax implications

 

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