Why choose a 529 over WL?

[James]

Who is or isn't Securities license really doesn't matter to me, A share, B shares, C shares or F shares? Really people, you'll wonder why most don't know the difference between a CSA or CFP. Outside of everyone should be participating in PWL they should also read the book, "The Pirates of Manhattan".

 

[CHUMPS FROM OXFORD]

"everyone should be participating in PWL"

Not everyone.

 

[LGilmore]

"Securities license really doesn't matter to me, A share, B shares, C shares or F shares"

Well, the thing is if he doesn't understand how things work and he's providing advice were people liquidate funds....$$$$$$ ow. It hurts. I have so many rules on the Securities side of things that unless it's a big transaction, it's not worth the time. So many people have sued and won, that I have about 15-20 pages to fill out now, then explain to someone at the bd why.....

 

[James]

"everyone should be participating in PWL"

Not everyone.

EVERYONE, what do you not understand about EVERYONE?

Plus, you know the CV and Loans can be used to improve underground Bunkers and even those in Beirut!

You esp. need one!

 

[James]

"Securities license really doesn't matter to me, A share, B shares, C shares or F shares"

Well, the thing is if he doesn't understand how things work and he's providing advice were people liquidate funds....$$$$$$ ow. It hurts. I have so many rules on the Securities side of things that unless it's a big transaction, it's not worth the time. So many people have sued and won, that I have about 15-20 pages to fill out now, then explain to someone at the bd why.....

Now I see the highlighted section of what you said as really disturbing and, in fact indicates what I said that the CFP (or the financial community in general) has lost their focus is true. The Financial Planner is not today actively helping with middle america, yet the very same want to control everyone else that is working within middle america. Basically why I choose not to be license in Securities and use other vehicles.

 

[LGilmore]

James, in some ways your right there, it's elephant hunting for the most part. Where it's tough is getting someone started who is contributing $100 a month. That hundred pays me about $2.50. I don't mind doing it because I cross sell and if a person wants help, I give it.

But you are correct there are a lot of people who will never get served by the people advertising until retirement and they hit what they've built up with someone else or on their own. But really can't blame someone for wanting a decent compensation for their efforts.

aw well.

 

[James]

James, in some ways your right there, it's elephant hunting for the most part. Where it's tough is getting someone started who is contributing $100 a month. That hundred pays me about $2.50. I don't mind doing it because I cross sell and if a person wants help, I give it.

But you are correct there are a lot of people who will never get served by the people advertising until retirement and they hit what they've built up with someone else or on their own. But really can't blame someone for wanting a decent compensation for their efforts.

aw well.

I'll give you the compensation part of the equation, yes I can see that as a valid point!

On the other points I see the CFP as a major part of the problem along with Qualified Plans and what has been accepted as the "Norm" in 21st Century American Financial planning, it simply doesn't work for most. The whole idea of passive savings, "Buy and Hold" simply nothing more then a Crap Shoot and, everyone that ever gets beyond one or two talking points know this to be true.

Look at this way, why should anyone of modest means trust the Financial Houses of Wallstreet? Sure invest your money in Qualified Plans, leave that money with the likes of GMC for a few decades, let that money build as the GMC's of the world will allow. Now the same person wants some money to buy a house, so he goes and ask to borrow some, likely his own money! Then the GMC's of the world tells him to get in line and see if he can be approved for the loan under their rules and cost! Now many were born in the night, but it wasn't last night!

 

[CHUMPS FROM OXFORD]

"improve underground Bunkers and even those in Beirut!

That's what I DON'T want. If the Lebanese army had any backbone, they would drive Hezbollah out of these bunkers, disarm them and ship them to Iran.