A new study finds that too many financial planners tell their clients what the clients want to hear, rather than providing objective advice. Here's how to make sure you don't wind up with a "yes man" as an adviser.

Continue reading Six Tests Your Financial Planner Should Pass

Six Tests Your Financial Planner Should Pass originally appeared on DailyFinance on Sun, 14 Mar 2010 19:45:00.

He should have seen it coming: Sean David Morton, the head of Delphi Associates Investment Group, claims his paranormal powers have allowed him to call all the stock market highs and lows for the past 14 years. Last week, the SEC called him a fraud who was stealing his investors' money.

Continue reading Stock Market 'Psychic' Charged With Duping Investors

Stock Market 'Psychic' Charged With Duping Investors originally appeared on DailyFinance on Sun, 07 Mar 2010 09:42:00.

Continue reading Hartford Settles a 401(k) Class Action and Agrees to 'Revenue-Sharing' Disclosures

Hartford Settles a 401(k) Class Action and Agrees to 'Revenue-Sharing' Disclosures originally appeared on DailyFinance on Wed, 24 Feb 2010 18:00:00.

The securities industry is always coming up with the "latest and greatest" way to make a quick buck. But almost all of such vehicles are structured to benefit brokers and money managers. Investors wind up getting relegated to their usual status as victims with no redress.

Continue reading The 10 Biggest Investing Mistakes -- and How to Avoid Them

The 10 Biggest Investing Mistakes -- and How to Avoid Them originally appeared on DailyFinance on Tue, 02 Feb 2010 08:30:00.

Credit Suisse broker Eric Butler was found guilty of fraud, and prosecutors wanted him to serve 45 years. But a respected federal judge gave him just five, citing "the pernicious and pervasive culture of corruption in the financial-services industry."

Continue reading The Message in a Crooked Broker's Reduced Sentence

The Message in a Crooked Broker's Reduced Sentence originally appeared on DailyFinance on Sun, 24 Jan 2010 21:00:00.

Nationwide is "on your side" as the financial services giant's corporate slogan goes, but not everyone thinks so. A class action law suit charges Nationwide with accepting "revenue sharing payments" from mutual funds as the cost of being included as investment options in its retirement plans.

Continue reading Is Nationwide on Your Side? Not Everyone Thinks So

Is Nationwide on Your Side? Not Everyone Thinks So originally appeared on DailyFinance on Sat, 23 Jan 2010 11:00:00.

Now it's easy to find the hidden fees and conflicts of interest that hurt many 401(k) plans.

Continue reading Find Out the Hidden Costs of Your 401(k) Plan ... Free

Find Out the Hidden Costs of Your 401(k) Plan ... Free originally appeared on DailyFinance on Wed, 20 Jan 2010 15:45:00.

The index that DailyFinance's Daniel Solin created based on stocks that started with the letters in his last name would have ranked among the top 1% of mutual funds, if it existed. The message: Don't trust investing pros who confuse skill with luck. Index mutual funds are still your best bet.

Continue reading Blogger's Dumb Luck Stock Index Would Rank in Top 1% of Mutual Funds

Blogger's Dumb Luck Stock Index Would Rank in Top 1% of Mutual Funds originally appeared on DailyFinance on Tue, 19 Jan 2010 22:00:00.

Lusha the Russian chimp's stock picks have outperformed 94% of the country's investment funds. Inspired by Lusha, DailyFinance's Daniel Solin has created a stock index based on the letters of his last name. We'll track it to see if it beats expert fund manager portfolios.

Continue reading Can New Index Beat a Chimp's Stock Picks?

Can New Index Beat a Chimp's Stock Picks? originally appeared on DailyFinance on Mon, 18 Jan 2010 12:30:00.

When John Hancock, the nation's largest provider of 401(k) plans, says it isn't a "fiduciary" what does that mean for you? Simple: It means Hancock can act in its own financial interest, with no obligation to act in the interest of you, the customer.

Continue reading John Hancock Stays Mum on Whether It's a 401(k) Fiduciary

John Hancock Stays Mum on Whether It's a 401(k) Fiduciary originally appeared on DailyFinance on Thu, 14 Jan 2010 11:45:00.

Trust the Nobel Prize-winning economist: Your broker isn't going to "beat the market." How much money will you lose trying? One Ivy League professor can tell you that, too.

Continue reading The Two Studies Your Broker Hopes You'll Never Read

The Two Studies Your Broker Hopes You'll Never Read originally appeared on DailyFinance on Tue, 12 Jan 2010 10:03:00.

How do you create a really terrible 401(k) plan? Make a broker the fund's advisor, offer funds with high fees and insist the funds available to plan participants be retail funds because these funds have higher costs than institutional shares. Think its not legal? Some companies are doing it anyway.

Continue reading The 401(k) Sucker Punch

The 401(k) Sucker Punch originally appeared on DailyFinance on Sat, 09 Jan 2010 12:00:00.

All the buzz says gold prices will just keep rising, so why not buy now? Because most investors guess wrong when they try to time the market, and a comprehensive study shows gold's biggest selling points are nothing but hype.

Continue reading Is Gold for Fools? Experts Say Beware the Hot Commodity

Is Gold for Fools? Experts Say Beware the Hot Commodity originally appeared on DailyFinance on Wed, 06 Jan 2010 16:29:00.

Investors, take note. Many believe John Hancock and other 401 (k) providers like it are "fiduciaries," meaning they ensure investment options available to participants are the best -- and they put the interest of the plan participants above all others. That's not always the case.

Continue reading John Hancock, Are You a Real 401(k) Fiduciary?

John Hancock, Are You a Real 401(k) Fiduciary? originally appeared on DailyFinance on Wed, 06 Jan 2010 13:15:00.

Want to invest wisely? Understand your goals and determine whether increasing your risk is worth the upside. Advisers focus on other things like market predictions and stock picking. Why? An educated investor might not need them if they concentrated on what matters.

Continue reading A Broker Nightmare? An Educated Investor

A Broker Nightmare? An Educated Investor originally appeared on DailyFinance on Sat, 02 Jan 2010 11:00:00.

Continue reading Seven Shocking Tips to Boost Your Returns by 400% (or More)

Seven Shocking Tips to Boost Your Returns by 400% (or More) originally appeared on DailyFinance on Fri, 01 Jan 2010 12:00:00.

Here are a few: If you think you can pick winning stocks or mutual funds, or if you intend to rely on a broker or financial adviser to help you beat the market. In general, most people will be far better off if they simply steer clear of the stock market.

Continue reading Seven Reasons Not to Invest in the Stock Market in 2010

Seven Reasons Not to Invest in the Stock Market in 2010 originally appeared on DailyFinance on Sun, 27 Dec 2009 20:30:00.

FINRA says it's "an independent regulatory organization...ensure that America's 90 million investors are protected." That's hardly the truth. And now it wants to extend its biased arbitration powers to new areas.

Continue reading FINRA, the Securities Industry's Mandatory Arbiter, Shouldn't Be Allowed to Expand

FINRA, the Securities Industry's Mandatory Arbiter, Shouldn't Be Allowed to Expand originally appeared on DailyFinance on Sun, 27 Dec 2009 10:00:00.

Investing expert Dan Solin has reviewed thousands of portfolios, and the worst ones he's seen were held by doctors and dentists. Why would intelligent professionals with big incomes be such bad investors? Turns out, it's because they make such good targets.

Continue reading Why Smart Doctors and Dentists Make Dumb Investors

Why Smart Doctors and Dentists Make Dumb Investors originally appeared on DailyFinance on Wed, 23 Dec 2009 13:08:00.

With high fees, poor investment choices, conflicts of interest and kickbacks, 401(k) plans are a national disgrace. And plan operators use a legal loophole to evade any liability for the quality of the investments. But a recent court decision against Wal-Mart may lead to big changes in how companies deal with their 401(k) advisors.

Continue reading A 401(k) Dirty Little Secret: Brokers Can Easily Dodge Liability

A 401(k) Dirty Little Secret: Brokers Can Easily Dodge Liability originally appeared on DailyFinance on Wed, 23 Dec 2009 12:00:00.

There are many different kinds of annuities. I am going to describe the two most popular ones: deferred variable annuities and equity-indexed annuities -- and one that isn't popular but should be: fixed immediate annuities.

Deferred Variable Annuities

With deferred variable annuities, you pay the insurance company a lump sum. Your money is invested based upon your selection of the investment options...

Continue reading Dan Solin: The Lowdown on Annuities

Dan Solin: The Lowdown on Annuities originally appeared on DailyFinance on Tue, 08 Dec 2009 12:30:00.

Continue reading Dan Solin's three stock market predictions for 2010

Dan Solin's three stock market predictions for 2010 originally appeared on DailyFinance on Sun, 06 Dec 2009 15:00:00.

Continue reading High Fund Costs Can Devour Your Returns

High Fund Costs Can Devour Your Returns originally appeared on DailyFinance on Fri, 20 Nov 2009 14:30:00.

Continue reading Patricia Cornwell's $40 million mystery: Defendant's lawyer says "no losses" occurred

Patricia Cornwell's $40 million mystery: Defendant's lawyer says "no losses" occurred originally appeared on DailyFinance on Fri, 23 Oct 2009 13:50:00.

Continue reading Did the accountant murder Patricia Cornwell's nest egg?

Did the accountant murder Patricia Cornwell's nest egg? originally appeared on DailyFinance on Thu, 22 Oct 2009 09:30:00.

Continue reading 5 Medicare secrets you should know

5 Medicare secrets you should know originally appeared on DailyFinance on Fri, 09 Oct 2009 06:00:00.

Going to the hospital for any reason is bad enough. But it can be particularly grueling if you receive substandard care, get stuck with a bill full of mistakes or wind up sicker than when you were first admitted.

While most patients check in and out without incident, there are plenty who haven't been as lucky. On average, one person at every hospital is harmed by a drug error -- every day,...

Continue reading Five hospital secrets you should know

Five hospital secrets you should know originally appeared on DailyFinance on Thu, 01 Oct 2009 06:00:00.

Continue reading Your Biggest Risk is Your Broker's ignorance (About Risk)

Your Biggest Risk is Your Broker's ignorance (About Risk) originally appeared on DailyFinance on Tue, 22 Sep 2009 11:20:00.

Continue reading If this is a sucker's rally, I'll take it

If this is a sucker's rally, I'll take it originally appeared on DailyFinance on Sat, 19 Sep 2009 15:00:00.

Continue reading 50 Cent's view on achieving success: How much is it worth?

50 Cent's view on achieving success: How much is it worth? originally appeared on DailyFinance on Fri, 18 Sep 2009 17:20:00.