This a great blog post by Dan Wheeler. Click Here.
A little background on Dan: Dan is
a CPA who has an extensive background in accounting and finance. He recently retired from his spot at
Dimensional Fund Advisors as director of Financial Advisor Services after 21
years. He now is semi-retired and
writing his own blog titled “Wheeler Writes.”
Prior to starting his career in the fee only advisor
business he had a notable stint working for Merrill Lynch servicing retail
clients. It was this experience which
ultimately led him to see the ethical failing of the commission based financial
services industry and start out on his own as a fee based advisor.
He is currently writing a series of blog posts that speak to
his time at Merrill Lynch. I highly
recommend everyone read his blog. He
discusses the same issues I often mention, but with the most important
distinction of having actually lived it.
So I repost his short blog article and implore you to read it. (“Implore”
was the fanciest sounding word I could think of to say “I really, really,
really think you should read it.”)
Before reading it I want to highlight a few points that I
think are especially relevant to you.
