Sunday, April 19, 2015
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

New books offer advice for investors and advisers

By
From page B5 | December 31, 2012 |

Pittsburgh Post-Gazette

When people buy a house or car, they might pick at every detail in the agreement, carefully examine it and question what the other party says.

But when they open an investment account with a financial adviser, they often blindly sign any document in front of them, potentially giving away their rights and putting themselves in a difficult position if a legal dispute comes up.

“The fraud, negligence and abuse that leads to people getting ripped off by Wall Street begins at the point of opening up an account, not the first trade,” said Dale Ledbetter, a Fort Lauderdale, Fla.-based securities lawyer and co-author of “How Wall Street Rips You Off And What You Can Do to Defend Yourself.”

“The broker will give you a choice of investment objectives — growth, income, tax advantage or speculation — not capital preservation,” he said. “He will ask you to rate those objectives from 1 to 4.

“Even if you rate speculation as your No. 4 objectives and you lose money in the account, the broker will say, ‘Look, you did check speculation.’ If you check growth, they can take carte blanche to engage in highly risky transactions.”

While the book by Ledbetter and Connie Becker is meant to show Main Street investors how to avoid becoming victims, another new book, “The Financial Professional’s Guide to Communication: How to Strengthen Client Relationships and Build New Ones,” by Robert L. Finder Jr. gives financial advisers a few pointers on how to do a better job for their clients.

Ledbetter and Becker advise that investors can avoid being added to Wall Street’s sad list of casualties by not going into a relationship with an investment firm thinking the institution and its employees are friends.

The theme of the book is that it is easier to avoid losing money than it is to try to get it back.

It also debunks the myth that the Financial Industry Regulatory Authority, or FINRA, provides meaningful protection for investors against Wall Street negligence and abuse.

What “always comes as a great shock to clients is they have signed away their rights to sue a broker in court,” Ledbetter said. “They instead agree to arbitrate disputes before FINRA panels, which is an industry-owned trade association for the securities industry.”

Meanwhile, Finder, a 30-year veteran of the financial services industry who is based in St. Louis, Mo., has written a book for financial professionals to grow their practices by honing their listening, speaking and presentation skills.

The most successful advisers, according to Finder, are the ones who clearly define what they do; who listen to their clients without judgment or challenge; who speak with confidence, poise and clarity; and who practice their communication skills on a regular basis.

Many financial professionals don’t even know they lack proficiency in the art of listening, speaking and providing advice.

“They oversimplify their presentations by talking down to clients,” Finder said. “They overcomplicate by speaking over their heads. They overwhelm clients by including excessive levels of details.”

The advice offered in “The Financial Professional’s Guide To Communication” does not only apply to financial professionals. It can be useful for any sales or professional field in the arts, sciences, academia or any occupations where it is important to get ideas across.

Scripps Howard News Service

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

Waiting game: Woman, toddler hope for kidney transplants

By Amy Maginnis-Honey | From Page: C1, 2 Comments | Gallery

 
Tiny twins call Heather House their 1st home

By Amy Maginnis-Honey | From Page: A1, 40 Comments | Gallery

Solano ranks last in Bay Area for health

By Ryan McCarthy | From Page: A1, 2 Comments | Gallery

 
SID to consider water rate hikes

By Kevin W. Green | From Page: A1

 
 
Healthier Living program begins mid-May

By Kevin W. Green | From Page: A3

Bachelor party turns into community event

By Susan Hiland | From Page: A3, 3 Comments | Gallery

 
Il Fiorello serves up chocolate desserts

By Susan Hiland | From Page: A3 | Gallery

City announces Browns Valley Road closures

By Bill Hicks | From Page: A3

 
When to throw in the towel on sickly plants

By Karen Metz | From Page: C4

Coping with seasonal allergies

By Emerita Brigino-Buenaventura, M.d | From Page: C4

 
Church hosts health, wellness fair

By Susan Hiland | From Page: A5 | Gallery

Solano superhero back in school

By Kevin W. Green | From Page: A5

 
Home, garden show offers something for everyone

By Bill Hicks | From Page: A6 | Gallery

Weather for Sunday, April 19, 2015

By Daily Republic staff | From Page: B6

 
Fairfield hotel gets major renovation

By Kevin W. Green | From Page: B7 | Gallery

 
Teen victim of Dixon shooting dies

By Bill Hicks | From Page: A7, 4 Comments

Land use, design, project synergy key to growth

By Brian Miller and Karl Dumas | From Page: B7

 
Vanden robotics team ready to compete in world championships

By Bill Hicks | From Page: A7 | Gallery

2 nations at center of market drop

By Bud Stevenson | From Page: B7

 
Fairfield police log: April 17, 2015

By Glen Faison | From Page: A9

Suisun City police log: April 17, 2015

By Glen Faison | From Page: A9

 
Commissary-Exchange pairing gains steam

By Nick DeCicco | From Page: B10

Airmen with county ties complete training

By Nick DeCicco | From Page: B10

 
.

US / World

Time plus distance help some Oklahoma City victims move on

By The Associated Press | From Page: A7

 
San Francisco marks anniversary of 1906 earthquake

By The Associated Press | From Page: A7

 
Scarlett O’Hara outfit fetches $137,000 at auction

By The Associated Press | From Page: A10

Turin Shroud goes back on display for faithful and curious

By The Associated Press | From Page: A10

 
French replica of revolutionary frigate sets sail for Boston

By The Associated Press | From Page: A11

 
Islamic State blamed for Afghan suicide bombing killing 35

By The Associated Press | From Page: A12

.

Opinion

Justice not served

By Letter to the Editor | From Page: A8, 25 Comments

 
Clinton should spruce up a bit

By Letter to the Editor | From Page: A8, 23 Comments

 
 
Sound off for April 19, 2015

By Daily Republic | From Page: A8, 2 Comments

Talk about corruption

By Letter to the Editor | From Page: A8, 8 Comments

 
.

Living

Community Calendar: April 19, 2015

By Susan Hiland | From Page: A2

 
Today in history: Sunday, April 19, 2015

By The Associated Press | From Page: A2

 
Vatican unexpectedly ends crackdown of US nun group

By The Associated Press | From Page: C3

Horoscopes: April 19, 2015

By Holiday Mathis | From Page: C4

 
Wife needs to decide if she can tolerate husband’s binge drinking

By Kathy Mitchell and Marcy Sugar | From Page: C4

.

Entertainment

PUBLISHERS WEEKLY BEST-SELLERS

By The Associated Press | From Page: C2

 
Anna Kendrick has book of essays coming out in 2016

By The Associated Press | From Page: C2

Phil Klay, Leslie Jamison among PEN award nominees

By The Associated Press | From Page: C2

 
.

Sports

Crawford, Heston lead Giants to win

By The Associated Press | From Page: B1

 
Curry scores 34, Warriors beat Pelicans 106-99 in Game 1

By The Associated Press | From Page: B1 | Gallery

Reddick’s 3-run homer sends A’s to 5-0 victory over Royals

By The Associated Press | From Page: B1

 
Cal defense shines for a change at scripted spring game

By The Associated Press | From Page: B1

 
Free agent center Wisniewski signs 1-year deal with Jaguars

By The Associated Press | From Page: B2

Pete Rose hired by Fox as special guest studio analyst

By The Associated Press | From Page: B2

 
Marcotte, Ryan win US cycling Criterium championships

By The Associated Press | From Page: B2

Independent league experiments with 3-ball walks

By The Associated Press | From Page: B2

 
Merritt maintains edge through 3 rounds at RBC Heritage

By The Associated Press | From Page: B2 | Gallery

Jones throws 2 TDs, wins challenge at Ohio State spring game

By The Associated Press | From Page: B2 | Gallery

 
Serena Williams gets a rare test from Giorgi but holds on

By The Associated Press | From Page: B2

Tom Watson: Next Masters might be his last

By The Associated Press | From Page: B2

 
Harden has 24 points, Rockets beat Mavs 118-108 in Game 1

By The Associated Press | From Page: B3

Pierce leads Wizards past Raptors in OT in Game 1

By The Associated Press | From Page: B3 | Gallery

 
As Spurs know, international players can impact NBA playoffs

By The Associated Press | From Page: B3 | Gallery

Rose scores 23, Bulls beat Bucks 103-91

By The Associated Press | From Page: B3

 
Hometown report: Little League baseball

By Daily Republic staff | From Page: B4

Hometown report: Youth track

By Daily Republic staff | From Page: B4

 
Kenseth content in car and not contemplating retirement

By The Associated Press | From Page: B4 | Gallery

Logano leads flag-to-flag to win Xfinity race at Bristol

By The Associated Press | From Page: B4 | Gallery

 
This date in sports history for April 19

By The Associated Press | From Page: B5

 
.

Business

Using a prepaid card? Avoid getting socked with fees

By The Washington Post | From Page: B7

 
Recalls this week: blowers, bike hooks, mattresses, toys

By The Associated Press | From Page: B8

This year’s fight for the tech industry: Patent trolls

By The Associated Press | From Page: B8

 
IMS: US prescription drug spending jumped 13 percent in 2014

By The Associated Press | From Page: B9

Fast-growing Asian aviation confronts safety challenges

By The Associated Press | From Page: B9 | Gallery

 
 
.

Obituaries

Carole Anspach

By Nancy Green | From Page: A4

 
Robert Larkin

By Nancy Green | From Page: A4

Barbara Medders

By Nancy Green | From Page: A4

 
Carrol “Carl” Gordon Parker

By Nancy Green | From Page: A4

John Thompson

By Nancy Green | From Page: A4

 
Allen Ellsworth Dolby Sr.

By Nancy Green | From Page: A4

Sterling Jenkins

By Nancy Green | From Page: A5

 
.

Comics