Your Financial Adviser’s Conflicts Could Put Your Money at Risk

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 15 April 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Some financial advisers who charge fees based on their client’s portfolio balances may make recommendations that represent a conflict of interest. Wall Street Journal personal finance reporter Anne Tergesen joins host J.R. Whalen to discuss. Listening on Google Podcasts? Here's our guide for switching to a different podcast player. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:12.0	Take a free test drive of OCI at Oracle.com
0:15.5	slash Wall Street.
0:17.5	Before we get into today's episode,
0:19.4	your money briefing is exploring what you need to know
0:22.0	to become a homeowner and sustain your home.
0:25.1	You can get early access to our series buying a home and keeping it on W.S.J. Special
0:29.9	Access.
0:30.9	Available only for W.S.J. subscribers.
0:34.3	Now on to the show.
0:37.0	Here's your money briefing from Monday, April 15th.
0:42.8	I'm J.R. Whelan for the Wall Street Journal.
0:47.5	A financial advisor can help you decode the markets
0:50.4	and find smart ways to invest. But some advisors make recommendations
0:55.0	that wind up not being in your best interest.
0:57.0	If I'm your advisor and I'm charging you 1% of your portfolio,
1:01.0	I get paid more when your portfolio does well and goes up.
1:04.8	So if I'm making good investment decisions, then that's going to benefit both you and me in
1:10.4	tandem.
1:11.4	With the commissions, the incentive is to sell you products
1:14.0	whether you actually need them
	...

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