Celebrity Stealing
I just read an article about a Financial Advisor that received 20 years for bilking her clients out of 20 million dollars. She was considered a celebrity as she appeared as a guest on CNBC as well as had her own talk radio show in Maryland.
I guess she used the money for cosmetic surgery as well as the usual things such as new cars and furniture. But in her last year, before she was caught, she used this money to hire priests from India to ward off the Feds. I wonder if the Priests had some kind of money back guarantee. Although I’m not sure whether she can collect it from where she is going.
I think what truly bothered me reading this article was the fact she could look at her clients in the eye knowing that she would steal their hard-earned life savings. I can’t imagine what those poor people were thinking when they found out they were scammed.
These types of stories have a sobering effect on me. They make me go down my moral check list and make sure that I know that I’m doing the right job for my clients. It’s why I need to see my clients at least once a year. As a client, you need to know what your money is doing and are the promises I made you when we started working together coming to fruition. You should have questions and not be afraid to ask them. I can guarantee those poor people that got “Hosed” from that advisor, didn’t ask the questions or were to be blinded by her celebrity status.
I personally like when a client asks me about their investments and whether I think they are going in the right direction…So, come and see me a minimum of one a year and ask me stuff.