Why you should second guess your financial adviser

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Trust is a huge issue when it comes to money, but few retirement savers take the time to look up records for their brokers and financial advisers before handing over their money.Well, they may want to start.Some 7 percent of advisers have been disciplined for misconduct, according to a working paper released this week by the University of Chicago Booth School of Business. Misconduct included selling clients investments that weren’t suitable or not consulting with them before making trades and other investment decisions.And contrary to what some investors might expect, rates of misconduct are much higher at some of the largest financial advisory firms. At Oppenheimer & Co., for instance, nearly 20 percent of advisers had been in trouble for misconduct. continue reading »last_img read more