Entrusting someone with your retirement savings requires more than confidence in that person’s investment ideas. It requires knowing who they are, how they are regulated, where your money is held, and what authority they have over it.
Prompted by allegations involving a local investment manager and Baldwin County residents, Josh Null and Michelle Lee Melton-Null examine how financial fraud can occur, and which warning signs investors should learn to recognize. The allegations discussed in the episode were unresolved at the time of recording.
In this episode of Coasting in Retirement, Josh and Michelle explore several forms of misconduct, including direct theft, unauthorized transfers, excessive trading, and fictitious investments. They also explain how investors can research a financial professional’s registration, employment history, and disclosures through regulatory databases.
Most importantly, the conversation breaks down the difference between custody and discretion. Understanding who actually holds your assets, and whether an advisor can manage them without directly possessing them, can reveal an important layer of protection that many investors overlook.
Would you know how to verify your advisor’s credentials or independently confirm your account balance? And where is your money actually being held?
Listen to the full episode to learn which questions, records, and warning signs can help you evaluate a financial professional before placing your savings in their hands.
Gulf Coast Financial Advisors, LLC (“GCFA”) is a registered investment adviser offering advisory services in the State of Alabama and in such other jurisdictions where it is registered, filed the required notices, or is otherwise excluded or exempted from such registration and/or notice filing requirements. Registration does not indicate or imply that GCFA has attained a particular level of skill or ability, nor does it constitute an endorsement of the firm by the Securities and Exchange Commission (SEC) or any state securities regulator.
The Coasting in Retirement radio program serves mainly to disseminate general information including those pertaining to GCFA’s advisory services, together with access to additional investment-related information, publications, materials and links. The publication of this radio show should not be construed by any client and/or prospective client as GCFA’s solicitation to effect, or attempt to effect transactions in securities, nor should it be interpreted as GCFA providing personalized investment advice, or any type of professional advice, for compensation, wherever this program is broadcast. Any subsequent, direct communication by GCFA with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.
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