You, and only you have your best interests at heart. If you think your broker is a “great guy“, or your financial advisor “really knows what he’s doing“, you need to ask yourself several questions. Why did your financial advisor or broker become a financial advisor or broker? How does this person make money? Is this person more interested in making him or herself money, or making you money? What is his motive? Does she have bills to pay? Does this person make more money from you or from someone who pays them commissions to make recommendations? Are there kickbacks on the back end that may influence the recommendations that your advisor may give you? Do you have full disclosure of any relationships that your advisor may have? Really? Are you sure?
You must consider the possibility that your investment advisor may be more interested in their profit than yours.
It should be abundantly clear that Wall Street’s motives are different than yours.
You must take the steps necessary to get control of your savings and your future.