Thursday, October 1, 2009

Have you read your brokerage agreement?

Dan Solin of the Huffington Post had a great blog post titled 'Why Don't You Just Give Your Broker a Gun and Tell Him to Shoot You?' It's 12 short paragraphs, and truly shines a light on the creepy, crawly corners of working with a broker as opposed to a fiduciary.

My favorite line is this (after explaining some of the provisions in the brokerage firm contract he reviewed):
"Why would you entrust your assets to a firm that tells you it does not have to act in your best interests and further that it may have conflicts of interest with you which it will resolve in its favor?"
There's not much for me to add to his posting - you should read it.

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