FINANCIAL ADVISOR INSIGHTS: Here's why people fire their advisors

Why advisors are fired (Think Advisor)

Think Advisor says a study conducted by Spectrem Group found 58% of high-net-worth individuals will switch financial advisors at least once in their lifetime. The survey found the three biggest reasons for change were their advisor wasn't proactive, didn't give them new investment ideas or was underperforming the market. According to Think Advisor, clients who received communication over the phone were more likely to retain their advisor than those who used text message or social media for correspondence.

Inflation expectations are falling (Business Insider)

On Thursday, the Federal Reserve will announce its latest interest rate decision. Most economists believe the Fed will raise rates off the zero bound at some point this year, and possibly at Thursday's meeting. In August, Fed vice chairman Stanley Fischer noted consumer inflation expectations have been stable, and that is one factor looked at when deciding whether or not to raise rates. However, recently, consumer inflation expectations have slumped to less than 2.8%, and are near their lowest level since the New York Fed survey of consumer inflation expectations began in June 2013. This could give the Fed some reservations about rising rates in September.

Franklin Templeton saw its biggest outflow in over 20 years (Investment News)

Investment News reports Franklin Investments' mutual funds suffered their biggest outflow in more than 20 years. The $5.4 billion of outflows during August edged out the amount of money pulled from the company's open-ended funds during October 2008, the heart of the financial crisis. According to Investment News, the Templeton Global Bond Fund and Franklin Income Fund have seen $8.6 billion in withdrawals this year, and Franklin Templeton as a whole could see its first full-year outflow since the financial crisis.

Why we feel overworked (CNN Money)

A recent Gallup poll found that full-time workers in the US are working 46.7 hours a week, on average, amounting to almost another full workday compared to the 40-hour workweek. Despite spending more time at the office, many workers feel like they don't have enough time to engage in creative thinking, according to a survey conducted by The Energy Project and Harvard Business Review. CNN Money spoke with Tony Schwartz, The Energy Project's founder, and he suggests to work in 90-minute cycles and take occasional naps for greater happiness and productivity.

SEC accuses man of stealing investor money for strippers and vacations (Financial Advisor)

The Securities and Exchange Commission has charged Jason Mogler with orchestrating a multi-million dollar scheme. According to the SEC, Mogler allegedly stole $10 million of client money and spent it personal items, vacations and trips to strip clubs, Financial Advisor reports. Three other men, Casimer Polanchek, Brian Buckley of and James Stevens, were also part of the alleged scheme, resulting in an additional loss of approximately $7 million. Financial Advisor says in total, about 97% of the $18 million raised was misappropriated.