Nicholas Halanych from North Carolina posted over 11 years ago:

Love AAII------Interested in dividends------------Thank You NH

Thomas Blum from NC posted over 10 years ago:

Brokers need to establish a fiduciary relationship to their clients which FINRA does not require now. Their current proposals are a smokescreen to avoid the fiduciary relationship. The experience many clients have had in obtaining guidance for their 401 accounts establishes that clients have not received fiduciary level guidance. Now is the time to correct this unsatisfactory relationship.

Susan Whitehead from VA posted over 10 years ago:

As a "senior" myself, I am fortunate to possess sound mind and body and I am currently quite capable of managing my financial affairs. I have become a more conservative investor over the years, and more risk adverse; there have been times I have put off a particular course of action due to temporary ill health and feel the desire to discuss investment with another whom I can trust (my heirs are not too interested). I have decided to hire a fee-based financial adviser going forward (and to involve my heirs with my reasoning and logic for my planning.) Of course, I will also establish a living trust to which I will transfer all of my assets, and I will request said fee-based adviser to assist my heirs (at their discretion). A fee-based adviser is compensated by an hourly fee, not by a percentage of total assets or commissions or fees on transactions. A person could prepare a "power of attorney" to give another person they can trust the temporary right to manage all their financial affairs in the event of not having established a trust. I do not believe that all brokers or "account advisers" (no matter how nice or attentive)are too particularity ethical - many accounts are "churned" by these people with excessive trading activity to generate broker commissions in spite of the validity of the trades to assist a client's net worth. At the least, there should be a devise (within banks, brokerages or advisory institutions)to detect fraudulent or detrimental activity within their organizations. However, self-policing is not usually much of a deterrent. There should be an agency such as the SEC set up to watch-dog these unscrupulous businesses. Additionally, many dishonest merchants/solicitors/cold-callers should be monitored by local (city or county) reporting organizations. This more stringent monitoring mechanism would allow the person's competency to be established (as in handing all their financial matters), even if for a short time during brief periods of critical or debilitating illness. Those involved should be a majority of heirs, a registered or certified evaluator, (such as a psychologist or psychiatrist), and an attorney representing the well-fair of the person involved. Prevention, as mentioned above, is the best alternative! No controlling regulations can detect all culprits taking advantage of seniors and many are left at risk; perhaps even worse, other seniors who are completely competent may be affected and wrongly lose control of their assets perhaps by untrustworthy heirs or attorneys. It is not an easy situation and the common denominator is TRUST - often a difficult commodity to find, especially when money is the underlying cause.