We’re diving deep into the world of trust (or lack thereof) in the financial services industry! This episode is all about how trust in your financial advisor should be more than just a warm fuzzy feeling; it needs to be backed by proactive planning and accountability.

We'll break down two compelling cases: one involving a major investment firm hit with a $17.5 million civil penalty for allegedly making misleading statements about its ESG-focused investments, and another where an advisor orchestrated a Ponzi scheme to deceive clients.

📢 We Want Your Input! Take our quick two-question survey here and tell us what’s most important to YOU when choosing a financial advisor.

Takeaways:

• Trust in financial advisors is crucial, but it must be verified through their actions and performance standards.
• Beware of investment firms that claim high returns with little risk; if it sounds too good to be true, it probably is.
• A Ponzi scheme can happen to anyone; always do your homework before entrusting your money to an advisor.
• Investing should align with your values, but ensure your advisor is genuinely representing those values.
• Don't follow the flashy marketing; focus on the fundamentals of investing for long-term success.

We'd love your input. Take our quick survey at https://forms.office.com/r/837zquxdET

Ponzi scheme source https://www.justice.gov/usao-ednc/pr/raleigh-investment-advisor-s-40-year-sentence-ponzi-scheme-and-obstruction-affirmed

article referenced about Invesco at https://www.mofo.com/resources/insights/241220-top-5-sec-enforcement-developments-for-november-2024

Volkswagen article at https://www.bbc.com/news/business-34324772.amp

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Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com

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About Your Co-Hosts:

Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.

Steve Campbell has over a decade of industry experience and is a Senior Marketing Director at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.