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6 lies your financial advisor is telling you. Here’s how you can spot them
1. No fees:
![6 lies your financial advisor is telling you. Here’s how you can spot them](/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-59231360%2Cwidth-700%2Cheight-525%2Cimgsize-117417%2F1-no-fees.jpg&w=3840&q=75)
2. Trust me, I have a title:
![2. Trust me, I have a title:](https://staticbiassets.in/thumb/msid-59231361,width-700,height-525,imgsize-81686/2-trust-me-i-have-a-title.jpg)
"That is perhaps the biggest lie," says Warren Ward, a Columbus, Ind.-based financial advisor. "They are apparently free to call themselves pretty much anything: advisor, counselor, wealth manager," he adds.
3. Look at these returns:
![3. Look at these returns:](https://staticbiassets.in/thumb/msid-59231359,width-700,height-525,imgsize-204427/3-look-at-these-returns.jpg)
Some advisers overstate compound interest. The equation is something like this: "If you invest $A over the course of B years you will earn $C because the average rate of return of this fund (or market) is D%" But wait. "The problem with this equation is that no one can score that rate of return every year," says Jordan Wolff, the chief savings officer for Shrinkabill Services, a financial services firm. The math treats this as a consistent earning every year. And that's not accurate.
4. Did we forget to mention that?
![4. Did we forget to mention that?](https://staticbiassets.in/thumb/msid-59231357,width-700,height-525,imgsize-266770/4-did-we-forget-to-mention-that.jpg)
Few advisors will tell you an outright lieMany terms and fees are buried in difficult-to-read prospectuses, and you may not be able to decipher the true costs of some investments. Remember, Registered Investment Advisors and Investment Advisor Representatives are required to act in a fiduciary role, while Registered Representatives may earn a commission.
5. This investment has no risk:
![5. This investment has no risk:](https://staticbiassets.in/thumb/msid-59231376,width-700,height-525,imgsize-48084/1-find-trustworthy-partners.jpg)
6. It's do or die:
![6. It](https://staticbiassets.in/thumb/msid-59231356,width-700,height-525,imgsize-865921/6-its-do-or-die.jpg)
Shady investment advisors love fear tactics. It takes patience to succeed. Bad advisors push clients to make a decision because they are afraid of losing a sale, not because the market is going to change. If your advisor is scaring you, maybe you have the wrong advisor
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