Any Comments on Raymond James? Just IMO & confirm the following with any Firm you inquire to want to Hire:
First of all as for buying any Ins. Products? Get at least a 2nd and 3rd Opinon, preferably from your own Ins. Agent and be very skeptical .. They are the #2 most Profitable Sales Item for Businesses. many pay 10% Commission to the Agent selling them.. and another 1% yr thereafter.. Thus why they push them so much ! I tell them, If I want an Insurance agent I'll use the one I have for over 20+ yrs thank you..
After Serving the Financial Industry ( and Several Firms , Including RJ ) thru my Limo business in Both Chicao and Boston for over 30 yrs and now Retired..
1- Understand, if they are a Franchise Business that like other Franchises, are Controlled and guided by the Franchisor ( Corp Office) and while may give individual Offices/Franchises some leaway, so that Your Investing your $ into Individual running is, at best 33% True, the other 66% is Controled by what Corp. Says they have to follow..
2- They are no Different in running their franchise type Office any Differently that a Mutual Fund store or EJ, etc.. They all have guidelines to adhear too by " Corporate".. and Depending on your account size, you may get a new Apprentice to one of the Senior Partners running that Office/Franchise.. but, all being Supervised by The Owenrs & Corporate..
3-Your 'Assigned Advisor Will Come and Go , Don't expect them to be with you ForeverMore.. and depending on your Account Size, their Replacement can be one of the Senior to New staff taking your account over, but again, Under the Guidence of the Franchise Owner(s) and 'Corporate'..
4- and you would be wise to be Frank with them, upfront and in informing them, while you have to disclose All your Assets to Determine your Investing plans, your only going to give them either (a) Their Min. Amt. Required to Open an Account or (b) a max of 25%, whichever is less for at least the 1st 3-5 yrs and/or until They Prove themselves Worthy to trust them with More of your hard Earned $.. " Talk is cheap, actions tell you who they really are and only time will prove that, right? "
5- As for these Message Board, always expect that at least 75% or more advisors have good intentions and are very Experienced and Manage their Own $ and don't use WMF's and thus have No Knowledge of what they could have Been & having one do at least 50% of their Decisions..
And , Like you do when evaluating Mutual Funds & Investment Mgmtn. Firms, unless they are willing to Share where their $ has been for the past 7,10 & 15 yrs to back themselves Up?
I'd be very skeptical of following their Suggestions and Advice where to Put your $..
DYOR and then Get In Person Advice from people you Know that have been as or more Successfull doing what you have and want to do , then wait at least 3 mos., before Investing or making any changes with your $ .
6-Personally? I WOULD Recommend RJ if at least 1 of the Min of 3 WMF you want to Ck into and be honest with them all upfront .. of what your doing, ( Comparison Shopping)
and if you have Portfolio's? Bring or send them copies of their history and performance to Let them Know your not Some Rookie at this investing Game.. as well as Informing them your Law Firm that does Family ( & Co.) Business and a CPA firm that does your Taxes and other things will also have to sign off using them as well..
Do you have a Law Firm and CPA firm ? If not? Why not? my CPA firm I've used for over 20+ yrs ( and Now in Retirement ) ave about $500 yr to do my taxes..= Chump change and never been Audited and to me, that is my #1 Priority doing taxes..( I've Been audited in my early yrs in my business and its a Nightmare! )
If the CPA Firm you use has a Good Reputation with IRS? It can make a Big Difference..
Inclosing> I've Owned some of RJ Stock for yrs now and Only because, they were ( and still are) the Financial firm of the Owners of the Limo Co. I was with .. Then again, they Opened up an account with them to get them as a Co. Client to serve them and other Wealthy Clients & Co.'s they have.. And that stock has been Free $ to me for yrs and the only reason I kept it and let it ride on its own.. I think its about 5% of my Tot Assets as of last yr.. And Opptimistically? Will also be Passed Onto my Heirs and up to them wether to Cash it in or keep it ..They, all being Richer than I ever was at their age and their nice Over paid Jobs and Pensions, don't need the $.. Both Living in the "Beverly Hills of the Midwest" ( NorthShore or Chicago).. and R Yuppies as well ! ( and their Neighborhoods/Assoc. Don't allow owners to Mow their own lawns, it all is done by the Assoc. Landscapers ! Its Disgusting ! ;-)
Hope that helps! ;-0)
Pimco Cuts Government Debt Stake Just In Time For June Selloff
Apple is the new pimco and Tim cook is the king of bonds
Apple is the new pimco and Tim cook is the king of bonds
Art Cashin: "Beware Triple Crown Indicator"
Art Cashin: "Beware Triple Crown Indicator" Speaking of indicators ... Laugh if you wish ... but, I track and note the S&P 500 Index readings with respect to the new and full moons. And, I have used the moon's phases to position cost average into some of my current positions. Now, let's see, the harvest moon comes this year on October 13th. Perhaps, this might be a good entry for the traditional fall stock market rally ... or ... something that might be very nasty to follow. Currently, I am leaning towards the fall rally as I feel excess valuation in the markets should be worked off by then. But, one never knows for sure if this is how the fiddle will be played. So, stay tuned.
Art Cashin: "Beware Triple Crown Indicator" ART CASHIN: Beware Of Solar Storms
Dow Stocks Oversold And Breaking Down Geez - About half way thru 2015, and the Dow is in the red. Anybody see this coming?
If I didn't have a small pension I wouldn't have retired early at The title says it all. Financially, if I knew now, then, and I didn't have a pension that covers about 30% of my 2016 expenses, I would have stayed working longer. We have all discussed, how much you need to retire and you can do that with almost any amount if you are willing to compromise your living style. I don't want to do that and I don't have an extravagant living style.
I've posted my budget and other information before. You can search for it.
I do not plan on changing my spending habits.
With my current projections I never run out of money. And in real terms my net worth, excluding home, increases. But, without the pension I would be vulnerable.
Positive # = decrease in expenses
% Year Age
15.1% 2,008 52
20.0% 2,009 53
-6.1% 2,010 54
-7.7% 2,011 55
9.0% 2,012 56
-6.2% 2,013 57
6.2% 2,014 58
-17.5% 2,015 59
-1.8% 2,016 60
-3.8% 2,017 61
4.0% 2,018 62
-5.9% 2,019 63
-2.3% 2,020 64
-4.2% 2,021 65
-4.3% 2,022 66
-5.0% 2,023 67
-4.2% 2,024 68
-4.8% 2,025 69
Dow Stocks Oversold And Breaking Down FYI: The Dow is now back in the red for the year with a YTD decline of 1
5 bps. The average stock in the index is still up, but only slightly at +1
5 bps. Below is our trading range screen for the 30 stocks in the Dow. For each stock, the dot represents where it’s currently trading, while the tail end represents where it was trading one week ago. The black vertical “N” line represents each stock’s
50-day moving average, and moves into the red or green zones are considered overbought or oversold.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/dow-stocks-oversold-and-breaking-down/
Art Cashin: "Beware Triple Crown Indicator" The title of Mr. Ritholtz's blog post:
More Fun With Useless Correlations: American Pharoah
Posted By Barry Ritholtz On June 8, 2015 @ 9:00 am In Bad Math, Cognitive Foibles, Investing
Half Of People Near Retirement Have No Savings Well the answer is both obvious and easily accomplished. Stop taxing the top 5%, and they will be so grateful that they will fall over themselves in a rush to help the less well-off.
Art Cashin: "Beware Triple Crown Indicator"
Better to have had it and lost it or not to have had it? I lost $100 million Follow-up to my earlier reference
http://www.phillyvoice.com/ukewarm-stock-market-investors-betwixt-between/"One looming concern is the steady increase in investors using borrowed money to buy stocks. Total margin debt hit a record $
507 billion in mid-April, according to the most recent figures from the New York Stock Exchange, trending higher along with the S&P.
"There's complacency, more complacency than I'm comfortable with. It makes me nervous," said Leo Grohowski, chief investment officer at BNY Mellon Wealth Management in New York. "Market participants don't seem prepared for an uptick in volatility, which is consistent with high levels of margin debt."
High levels of margin debt do not necessarily mean a selloff is coming. But they can make selloffs more violent should volatility pick up."
Half Of People Near Retirement Have No Savings Thank for the charts MJG. This one says it all:
