The 5 F’s of Financial Fraud

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 15 May 2020

⏱️ 91 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The 5 F's of Finance discusses financial fraud, why it happens, how to protect yourself against it, why smart people are more susceptible to it and more.

The best part about this episode is literally the day we recorded it I got an email that hit all 5 Fs on their first outreach. It was priceless. Most frauds are easy to spot to the trained eye and the diligent investor.

This special episode is the start of a series we are doing on financial fraud.

This is a must listen episode...

For more information, visit the show notes at https://moneytreepodcast.com/296

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.0	Stock market, wealth, personal finance, value stocks, invest in your life.
0:10.0	Welcome to this week's episode of Money Tree Investing Podcast.
0:14.0	My name is Kirk Chisholm and I will be your host today.
0:16.0	We have a very exciting episode.
0:18.0	I've been waiting for months to do this, and I have the perfect
0:21.7	guest here. Today we have Stan the annuity man. How you doing today, Stan? I'm living the dream in
0:26.9	you. I'm doing awesome. We're living the COVID life here. Exactly. Glad to have you on, because today
0:32.7	we're going to do a special episode, and Stan and I've been talking about this and we came up with the name.
0:37.5	It's called the five Fs of finance. Everybody's mind just went 100 miles an hour. Yeah. So if you
0:43.8	weren't paying attention, now's your time to pay attention. This is going to be. F stands for.
0:47.5	So there's five Fs and we're going to drill into each one. So the first F stands for fiduciary. So Stan, what does in your mind,
0:59.0	you're from the insurance industry, what does fiduciary stand for in your mind? It's the same across
1:05.2	the board, whether you're selling trucks or you got a food truck or you're selling, you know,
1:09.7	annuities or stocks. fiduciary is putting the other
1:12.9	person the person you're talking to their interest ahead of yours which seems to be a very hard thing
1:18.1	to happen in the annuity world for sure but fiduciary should not be an issue it should be a reflex
1:24.5	it should be something that you do period it's the right thing. I always say you can be a
1:29.0	misanthrope. You can hate humanity, but you can also be a misanthropic fiduciary, meaning you're still going to do the right thing, regardless.
1:37.0	Now, unfortunately, in the financial services businesses, as you know, we have to make fiduciary an issue and pound it into the table and teach people
1:46.1	how to be one. It's like teaching someone how to be a good person, which is unfortunate.
1:52.9	fiduciary should be innate. It should be inherent. It should be involuntary. It should happen
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Money Tree Investing Podcast, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Money Tree Investing Podcast and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.