Communication with your Financial Advisor

A high percentage of investors have personal relationships with their financial advisors. A lot of personal information passes between between you and the advisor. And, you inherently trust people you like. So, it is perfectly natural for information to be communicated verbally.  

We know there is nothing we can write that will cause you to change this method of communication. Old habits die hard. But, we would like to make you aware of a few issues that are created by verbal communications.

Sales Skills

Low quality advisors prefer verbal communications. They use their relationship and sales skills to make a living. Verbal communications maximize the impact of their sales skills.

Written Record

Low quality advisors do not want you to have a written record of what was or was not said to you. This opens the door to deceptive sales tactics that help them sell investment and insurance products: Omission and misrepresentation. 

Future Disputes

If all of your communications are verbal you will not a future dispute. Keep in mind, the service agreement you signed created mandatory arbitration that is controlled by FINRA. FINRA is a self regulatory organization that is funded by Wall Street.

Get it in Writing

There is an old saying that protects your financial interests. It is, "Get it in writing”. Written communications protect you.

Paladin says.....

Written communication protects your financial interests. Verbal communications create hidden risks. It is that simple. You have a business relationship with Wall Street and its advisors. Business communications are written to protect both parties.