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The Clark Howard Podcast

04.13.23 Fiduciary Duplicity: A Financial Advisor Warning / Top U.S. Job Markets

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.64.9K Ratings

🗓️ 13 April 2023

⏱️ 32 minutes

🧾️ Download transcript

Summary

Clark has warned against commissioned insurance products including fixed, variable and/or universal life; annuities, and annuities disguised under different names. Someone selling on commission is NOT a fiduciary, but some self-described fiduciaries are using a loophole to do just that. Clark explains what to look out for when choosing a financial planner. Also, we’re going through a clear job rotation in the U.S. New data reveals distinct geographical indicators of the top job growth metros in the country, and the effect that has on housing affordability. WARNING - Fiduciary Duplicity: Segment 1 Ask Clark: Segment 2 Top Job Growth Markets: Segment 3 Ask Clark: Segment 4 Mentioned on the show What Is a Financial Advisor and Do I Need One? 2 Ways To Guarantee Yourself a Lifetime Stream of Income Introduction To Money Market Mutual Funds What are money market funds? Digitone ProSeries Call Blocker Product Information Sunbelt Cities Nashville and Austin Are Nation’s Hottest Job Markets When Does a HELOC Make Sense in Your Life? 7 Places to Get the Best Deals on Lab-Created Diamonds Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This podcast is brought to you by Progressive.

0:02.5

Most of you aren't just listening right now,

0:04.7

you're driving, cleaning, and even exercising.

0:07.5

But what if you can be saving money by switching to Progressive?

0:10.9

Drivers who say by switching save nearly $700 on average.

0:14.6

An auto customer is qualified for an average of seven discounts.

0:18.0

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0:19.5

Quote today at Progressive.com.

0:21.5

Progressive casualty insurance company and affiliates.

0:24.0

National average 12 month savings of $698

0:26.8

by new customers surveyed who save with Progressive between June 2021 and May 2022.

0:32.4

Potential savings will vary. Discounts not available in all states and situations.

0:41.7

It's my pleasure to welcome you to the Clark Howard Show R-Missions to serve you and empower you

0:47.4

to make better financial decisions in your life. Today I have to add a warning

0:53.4

to my advice about choosing a financial advisor or planner.

0:58.5

There are fiduciaries that are slipping through a loophole to sell products I consider to be terrible.

1:08.9

And I'm going to tell you what to look out for.

1:11.7

On a more positive note, I'm also going to talk about areas where there's huge job growth right now,

1:19.2

even as the US economy slows and the number of layoffs rising.

1:25.5

So you'll hear me talk about why if you feel like you need professional advice on how to handle

1:35.6

your money, your investments to plan for your future, I always talk about only higher of

1:43.2

fiduciary. A fiduciary is someone who enters into a legal agreement with you that your interests

...

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