Single Point of View

Single Point of View is our way to occasionally share planning ideas relating to personal finance. Our goal is to pass along concepts that you may not be exposed to on a daily basis.

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Thoughts on the Recent DOL Ruling

  I read a study recently that stated only 30% of those who refer to themselves as financial advisors actually provide any level of financial planning.  One can only imagine that within that 30%, it is only a subset who are truly focused on planning vs. those who provide some planning as an ancillary service.   So what are the other 70% of "financial advisors" doing.  They are most likely insurance salespeople, or, strictly investment advisors.  To be clear, there is absolutely nothing wrong with insurance sales and investment management - we need those services.     The issue we have with the industry is in how confusing it must be to the general public.  When looking for financial advice, the natural thing to do is find a financial advisor.  How does one know if they are getting a financial advisor who is a financial planner, investment advisor, or insurance salesman...
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