3030: 8 Secrets Your Broker Won't Tell You (and Why You Need to Know Them) by Jeff Rose of Good Financial Cents

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Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 5 February 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3030: Brokers may not always have your best interests at heart, and Jeff Rose exposes the conflicts of interest that can cost you money. From hidden commissions to misleading titles, understanding these industry secrets can help you make smarter investment decisions. Learn how to protect yourself, identify trustworthy advisors, and take control of your financial future. Read along with the original article(s) here: https://www.goodfinancialcents.com/what-your-broker-financial-advisor-wont-tell-you/ Quotes to ponder: "Your broker might not have your best interest in mind when they make recommendations to you." "Your broker’s success can have little relation to your own. This represents a misalignment of interests that may cause your broker to benefit at your expense." "Brokers may be using deceptive titles to give you the wrong impression about their compensation model and qualifications." Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:30.6	This is Optimal Finance Daily. Eat secrets your broker won't tell you and why you need to know them.
0:37.5	By Jeff Rose of Good Financial Sense.com.
0:41.5	I have a little secret for you.
0:44.1	Your broker might not have your best interests in mind when they make recommendations to you.
0:49.4	In fact, brokers can legally put their interests ahead of yours.
0:57.8	Did you catch that? Translated, that means that your broker can get a speeding ticket for going 75 miles per hour on the interstate, but won't get
1:03.9	punished for selling you a crook investment that makes them a bunch of money. This is because most
1:09.7	brokers operate
1:11.0	under what's called the suitability standard,
1:13.9	which simply means the securities they recommend
1:16.6	must be appropriate for you given your financial profile.
1:20.4	However, many of the securities that can be considered suitable
1:24.6	may be far from the best investment options
1:27.3	available at a particular time.
1:29.6	How do you like them, apples? You may be surprised to learn that brokers working under the
1:34.5	suitability standard are not legally obligated to find the best prices or the best investment options
1:40.8	available at a particular time. As a result, your broker may offer you securities
	...

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