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Thursday, 3 March 2016
Financial Advisors - What EVIL Lurks?
Who Can You Trust?
The question would receive a resounding reply from Bernie Madoff's clients, no doubt. But don't rely on regulators or institutions to provide effective preventative controls. That's naive.
Three ways you can work to mitigate the evils of wayward advisors is to first employ two or more well-recognized practitioners to handle your affairs. A little competition goes a long way to keeping everyone on the up and up.
Secondly, consider employing only " fee-based hourly" advisors who are not so interested in generating commissions. The downside is that they are generally not as incented or aggressive and that may be a handicap in both good or bad markets.
Lastly, do you homework!
It Just Got Even Harder to Trust Financial Advisors
The euro hit its lowest in almost three years against the yen while European shares extended their strongest run of the year on Tuesday as data from around the region bolstered the case for more ECB stimulus next week
Japanese Prime Minister Shinzo Abe will pull together a new advisory panel to debate the need for a supplementary budget for the coming fiscal year from April to stimulate the flagging economy, sources told Reuters on Tuesday.
Australia's net foreign debt tips over $1 trillion as second widest current account deficit recorded
Australia's net foreign debt has expanded beyond $1 trillion for the first time on record.
One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total reserves, which also include foreign currency deposits and bonds.
As we noted, the decision to sell came from Finance Minister Bill Morneau’s office.
“Canada’s gold reserves belong to the Government of Canada, and are held under the name of the Minister of Finance,” explained a spokesperson for the Bank of Canada on Wednesday. “Decisions relative to gold holdings are taken by the Minister of Finance.”
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