A Quote by Charles Duhigg
Massachusetts has prohibited most financial advisers from using titles like 'certified senior adviser,' and some of the largest insurers, including MetLife and Genworth Financial, have similar rules.
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The industry financial advisers, on average about 85% male, tends to be a more mature financial adviser - so I think in their 50s, really. For so many companies, in their 60s. In fact, there is one company that was telling me they had more financial advisers over the age of 80 than under the age of 30.
We're trying to make sure that financial advisers act like lawyers and doctors. When you go to a lawyer or doctor, they have an obligation to put your best interests first. Financial advisers don't.
Lawsuits against reverse mortgage companies, including the nation's largest, Financial Freedom Senior Funding, contend that those firms helped pressure older Americans into bad investments.
Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world.
Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to many of the largest financial institutions and financial markets.
Men tend to leave their financial adviser at a single-digit-percent rate in any given year. And women leave their husband and their joint financial adviser in the year after their spouse's death at a rate of greater than 70 percent - seven-zero.
North Carolina is home to some of the largest financial institutions in the country, and a vibrant network of community banks. We're a banking state, and we're proud of that distinction. But we also understand that responsible financial regulation protects consumers and businesses.
By any measure, CapitalSource outperformed both our direct competitors and the financial services industry in general, particularly in the context of the near collapse of the financial services industry where 19 of the 20 largest financial institutions in the country either failed or were bailed out by the government.
As a young kid, I wasn't really interested at that stage - getting financial advice was far from my mind. I was focused on playing football. But I got onboard with this financial adviser and I heeded his advice, and that was my smartest money decision.
Do not trust financial market risk models. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science.
People without financial knowledge, who take advice from financial experts are like lemmings simply following their leader. They race for the cliff and leap into the ocean of financial uncertainty, hoping to swim to the other side.
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
Some financial advisers say anyone who may move in less than seven years should not take out a reverse mortgage.
The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
Some of the largest financial institutions can build a profit model on tricking people.
The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.
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