July 21, 2018
Brokers taking advantage of investors has to stop. Everyone I know, with a portfolio, is being taken by this , and it gets really sad when these investors retire...they are doomed when they now have no salary, and the fees, expenses, loads, 12b-1 fees ,brokerage fees , turnover, and just bad funds erode their savings
The brokerage firms make money, the broker(salesman) makes money, the investor who worked and saved all his life, DOES NOT
When you hire doctor, a lawyer, a CPA, any professional, you are paying someone to help you in a field that you are not an expert, but you expect them to work in your best interest, not theirs. It is totally shocking that they are all doing that.
Here at Duke, I am surrounded by retired Doctors, lawyers, Duke professors, even CPAs, teachers, Duke nurses, etc. all of us are being taken advantage of. Now, we are taking Olli classes to learn how to protect ourselves
We need to SEC to help us stop this