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So Money with Farnoosh Torabi

348: Bobby Monks, Author of "UNINVE$TED"

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.71.9K Ratings

🗓️ 3 February 2016

⏱️ 27 minutes

🧾️ Download transcript

Summary

Today’s guest is a serial entrepreneur. He founded, led and grew numerous businesses in the financial services, real estate, media and tech sectors. Robert or "Bobby" Monks as he goes by, is out with a new tell-all book. It’s called, "UNINVE$TED: How Wall Street Hijacks Your Money and How to Fight Back." It offers an interesting perspective considering Bobby worked in finance for almost his entire work life. So, in this book he is blowing the cover on how Wall Street works. He’s got a lot to say on the matter. The book is really a way to teach Americans on how financial firms and money managers on Wall Street are profiting from our ignorance by over complicating the investing system. Bobby talks about how the system is corrupt and what we can do to change it and he would know. He was once the chairman of Spinnaker Trust, managing over a $1 billion in asset so he’s had quite the perspective. With Bobby, we learn how to seek out a financial adviser who is working in your best interest and is affordable. How to negotiate with your financial adviser to lower his or her fees and the costly truth about 401(k)’s. For more information visit www.somoneypodcast.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So Money episode 348 Robert Monks.

0:05.0

You're listening to So Money

0:07.0

with award-winning money guru Farnoosh Karabi.

0:10.0

Each day get a 30 minute dose of financial inspiration from the world's top business minds,

0:15.2

authors, influencers, and from Farnus yourself.

0:19.5

Looking for ways to save on gas or double your double coupons?

0:23.2

Sorry, you're in the wrong place.

0:25.2

Seeking profound ways to live a richer, happier life.

0:28.7

Welcome to So Money's brought to you today by Wealthfront. Wellfront is the most

0:36.7

tax-efficient low-cost hassle-free way to invest. Now many of you I know are

0:41.6

interested in simplifying your investment strategy.

0:44.6

You want to reduce fees, you want to work with a service that you trust.

0:48.0

And Wealthfront delivers.

0:49.7

It builds and manages your personalized globally diversified portfolio.

0:54.4

To open an account, the minimum is just $500 and that gets you a periodically rebalanced diversified

1:00.7

portfolio of low-cost index funds.

1:04.4

There are zero trading fees, zero hidden fees,

1:07.4

and advisory fees that are just a fraction

1:09.8

of traditional advisors.

1:11.4

In fact, Wealthfront manages your first $10,000 for free. To learn more

1:16.6

and sign up, visit Wealthfront.com forward slash so money.

1:20.3

Today's guest is a serial on. money.

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