November 13, 2008
Hello, my name is Paul D'Amore, and I am part of a Private Wealth Advisory Practice of Ameriprise, and a CFP practitioneer since July of 2001. I am 61 years old, and in favor of the proposed regulation. I support oversight by the SEC of market indexed annuities. I personally have a client who was the victim of "deceptive and misleading sales practices", convinced by the persuasive falsities, and unable to get facts from the sales person or the issuing company. He nevertheless moved his rollover IRA to such a product, and has been somewhat unhappy since, and I suspect will continue to be miserable.
I have not always been an advisor, having retired from a very different field; a career in process chemistry and chemical engineering. I became an advisor, joining my wife, in her practice (she started in 1982) in 1996. We now have 6 advisors plus support staff in our office, and are proud of it.
I can finally say this: Money brings out the worst in people, and more money brings out the worst people. We already pay for the sins of others, but regulation and truth standards...which do not exist in politics or the media, are essential for the protection of the individual investor or client. PLEASE PROTECT CLIENTS FROM ABUSES.
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D. Paul D’Amore, CFPâ
Associate Financial Advisor
with the practice of
Christina M. D’Amore, CFPâ
Ameriprise Financial
D’Amore & Associates