Have you ever hired a Financial Advocate?

The current schemes and scandals remind me of a number of people who have approached me, asking if they could engage me to review investment proposals being presented to them by other advisors.  They needed a specialist who would help evaluate the pros and cons of each proposal and only look out for their best interest.  As a Fiduciary, I was intrigued by this suggestion since I love to compare competitive options.

Part of the agreement we made was that my firm could not be an option, so I could be completely objective. Naturally I believe that my investment approach is superior, but I truly understand the need to have someone completely unbiased to help you evaluate alternatives. 

It is a shame that so many of the Madoff clients did not use this approach.  They relied on personal relationships and word of mouth to make their decision, and look what happened.

BE SKEPTICAL.  GET INDEPENDENT ADVICE.