In Session Two we focus on two of the most heavily sold products by financial broker/dealers, insurance companies, banks and credit unions; Annuities and Mutual Funds. There are many other financial products sold (hedge funds, structured notes, options, individual stocks and bonds, etc.) by Wall Street. We believe strongly that for 95% of the U.S. public you should NOT purchase a commissioned financial product (plenty of no commissioned products in the marketplace) because of the inherent conflicts in the sale. Is the recommendation being made because the product is best for the consumer or is it best for the sales person in terms of a commission? Your major broker/dealers have annual net earnings that average over $8 Billion per year.
For annuities please understand the SURRENDER CHARGES. For example, if the surrender charge is 7% in the first or second year more than likely the sales person’s commission is 7% of the investment. For mutual funds, you must understand how you are being charged (A, B & C shares) and the expense ratio because expenses are a major detriment to the annual performance of the fund you’ve chosen.
ETF-EXCHANGE TRADED FUNDS:
OTHER FINANCIAL PRODUCTS:
FRAUD AND SCAMS: