Why financial planners hate Utah
CNN Money
Clients come to me with money in college savings plans from dozens of states, but I've never seen a single one who had invested in Utah's 529. Why is that? I assume it's because, unlike most states, Utah doesn't have an adviser-sold plan, so financial planners have no incentive to invest their clients' money in it.
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Planners preying on military personnel
CNN Money
Question: I am a pilot in the military and my wife is currently a student. We have a financial advisor who likes to refer to himself as a "fiduciary" and not a financial advisor. This company specializes in military families and was referred to us by a fellow active serviceman.
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Tell your planner you'll sleep on it
CNN Money
If you've ever sat down with your adviser and felt an overwhelming urge to immediately do what he says, that was no accident. The meeting may have seemed like an objective evaluation of your finances. But what you may not realize is that a lot of planners have another purpose: to quickly close the sale.
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