I can help you avoid the conflicts of interest that exist throughout the investment and financial planning industry.
For example, years ago I met an agent in California who bragged to me about investing a client’s $600,000 retirement portfolio entirely into an annuity that paid him 8% up front. His commission was $48,000 for about an hour of work. I was appalled. The product he recommended also had a horrific, but not uncommon, 9 year surrender penalty.
PCM offers no-load solutions. We work for you, not a broker dealer.
Consider this example. Our family was having Sunday dinner with my mother-in-law. She was a widow, and I was not involved with the management of her money. She casually mentioned she had just put her money with a planner she met at church.
I found out she put $410,000, almost all of her retirement savings, into an annuity. She was told it was “no-load,” but it paid the broker a 6% commission. He was getting a $24,600 payday at the expense of my mother-in-law. She did not understand the internal costs or the surrender penalties. I was very upset. She made this investment just 11 days earlier, but the annuity had a 10-day free look provision to back out of the deal. We were one day too late.
Instead of giving up, I contacted the insurance company and the brokers’ manager and explained this product was not suitable for an elderly widow in poor health. The good news: I was able to get all her money back with no fees or commissions deducted.
At PCM we recommend only what we buy alongside you. We help you avoid unnecessary commissions and sales loads. Our approach means you get unbiased and objective advice, every time, period.