Calgary Herald September 11, 2010
An award winning financial planner from Calgary is speaking out about the biasses in the financial industry and the damages being caused to clients.
"Many baby boomers are headed for financial ruin because they're following the self-serving advice the financial industry is giving them," said Allan Schieman, founder of financial education company MoneyPlan Academy.
"The industry has treated people like suckers playing at the craps table -but it's not just your money, it's your hopes and dreams they're messing with."
Schieman spent more than a decade as an independent financial planner and investment advisor but left the money management game to speak out about the conflicts of interest that are costing investors millions.
"When I explain to people how the financial system really works and what's going on they become furious," Schieman explains. "They realize how much the games and tricks are really costing them."
People Are Unknowing Victims
Schieman argues that 90% of financial advisors are just salespeople. "Their job is only to sell you financial products, it isn't to help you build wealth or save tax," said Schieman. "That's how the game is designed and its been fixed in their favor....they win, you lose, thanks for playing."
80% of all funds underperform the market but financial advisors still sell them. Banks have been raking in billions in profits while customers are suffering with dismal returns and paying unnecessary taxes. No meaningful financial planning advice is ever given to clients and people are missing out on huge opportunities.
Problem Is Now An Epidemic
"Most Canadian investors haven't made a dime in the last decade, but they've paid the highest fees and highest taxes in the world," Schieman said. "People are being kept in the dark about their alternatives. They're taking on way more risk than they realize with their portfolios and accepting far below average returns. "
Schieman's company does not sell investments. "We simply teach people the truth about investing and money," Schieman explains. "Financial freedom is easy to achieve once you've learned how. People need more financial education, not more financial products."
People Can Protect Themselves
Come to an educational workshop and learn how to improve your financial situation. These powerful events are jam packed with valuable information that you can use right away to improve your financial life.
Topics covered will include:
- A Foolproof Strategy for Finding the Very Best Investments ( Your Advisor Hopes You NEVER Learn This)
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- 9 Little Known Strategies to Slash Your Tax Bill by 60% Or More
- How to Keep the Government out of your Estate Forever
- How to Generate $50,000 of Cash-Flow and Pay only $457 in Tax
- 7 Steps to Commission-Free Investing
Choose From 2 Dates:
Tuesday, September 21st -Radisson Hotel (North)
OR
Wednesday, September 22nd -Carriage House Inn (South) 7:00 pm to 9:00 pm
Tickets are FREE if you pre-register now or $63 at the door.
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From Calgary Herald published on September 11, 2010
