On The Agenda:

On today’s show we’re talking about some of the stylish things in the financial world that can distract you from the substance that you should really be focused on. We’ll explain why you should watch out for sales brochures, hypothetical projections and testimonials.

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Episode Show Notes:

On this episode of How Money Works, we’re talking about style versus substance in the financial world and what you should be focused on.

Sales Brochures

Anything sounds good in the sales brochure, but remember, the brochure giveth and the fine print taketh away. Marketing people are brilliant. When looking at their materials, look a little deeper.


Hypothetical Projections

It’s fine to look at hypothetical projections for what to expect from a particular investment. Just be sure you understand the difference between a hypothetical and a guarantee. Also be sure that the hypotheticals actually present a plausible scenario.

You need to think about your risk profile and if you can handle the downsides. Watch out for the flashy promises.


Testimonials & References

Why would an advisor ever provide a testimonial or a reference from somebody who was unhappy with their service? They wouldn’t. So references aren’t necessarily very telling.


Advisor Awards

There are some awards that might be legitimate, but the majority of them are either gifts for placing a lot of business with one particular company, or they’re just something that an advisor purchased to make themselves seem more credible.

Listen to the full episode or use the timestamps below to jump to a certain section. Thanks for listening.

Important Points:

1:20 – Sales brochures

3:44 – Hypothetical projections

5:40 – Testimonials

7:12 – Advisor rewards

Other Resources:

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