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Crisis Test: Is Your Financial Advisor Really Helping You?

June 2, 2020

From the New York Post website

Stock market crashes don’t just test investors’ mettle. Abrupt downturns also can reveal what kind of financial advisor you have.

Some people will discover, to their horror, that they’ve been dealing with outright crooks. Ponzi schemes are among the cons that fall apart when markets do, as investors try to pull their money out and discover it’s gone.

More commonly, people learn that their advisors didn’t put the clients’ best interests first. The advisor may have recommended investments that were unsuitably risky or hard to sell, or failed to adequately diversify clients’ portfolios.

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