5 Reasons To Avoid Banks For IRA Advice

From Forbes.com

Customers are so loyal and trust the bank implicitly, and is unfortunate for the millions that have received advice on their IRA in a bank for the following five reasons.

  • Investment advice at a bank is usually not from a “bank employee”, but rather from a sales person from an affiliated company.
  • Overselling of products
  • Using the Bank’s own product at your expense.
  • Annuity sales
  • Investment management fee limits for RIA services in bank branches, are far above the national average.

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