Why do you think a covered call on broad based ETF strategy is unsuitable for someone using the portfolio to replace income from a deceased spouse? Honestly.
so if this guy has 100 income strategy portfolios, is he spending all his time writing calls, rolling, monitoring positions?
seems like a boat load of work for 1 guy
Like I said, probably nothing illegal here, and, as I said, options can lower risk, so nothing about suitably can be determined, but if we assume 400k, the advisor fee is very high here in America. She’s paying at least 100k for a Honda Accord, that is most likely a lemon too. Sorry to hear that Canadian investors have such poor options.
Paying a bit too much isn’t fraud, as long as it’s disclosed. For all we know the portfolio may be even larger
You and I are in agreement. Not quite sure how most of the other posters are looking at it. Could be some fiduciary issues, if required, but that might even be a stretch. Looks like just normal everyday legal car salesman tactics.
Greenman,
If you are within the armed forces and die or become captured, disabled and whatnot , do you are in the case of KIA your family get any form of compensation from the goverment ? Back in my home country people who fought in the Iran-Iraq war and somehow ended up wounded did recieve something, but it was usually not that high or there was really complicated rules as to the percentage of injury. The reason I am asking is the media seemed to portrat this bankrupt or homeless veteran who lost a limb or his family ended up broke cause they couldn’t make ends meet.I am sure there has to be some form of compensation but I am really confused about the rules and stuff.
I went down to philly a while ago and there was so many African Americans holding slogans saying stuff like " feed the hungry war veteran" which was really sad and for some reason people in philly don’t seem to care( not relevant to my question) but I saw a few people looking in the trash for food, it made me spend a few bucks buying them food but I am sure people over there don’t care.Back in Where I live the homeless are well fed they don’t have a shelter, I am pretty sure in philly shelter is not top priority.The homeless here have sleeping bags,drink coffee, some live in tents and people constantly buy them food from what I have seen.
What in the blue hell are you talking about?
Pay him no mind, Greenie.
Remember: he wants to be a math major.
(Unstable mind. Shhhh.)
Thank you for the daily motivation sir.
In searching for this thread, I realized that there are two other threads named “etiquette and protocol”, one of which was started by me and the other directed at the first. But I digress…
Update: talked to the SM (single mom) in question. First, the guy that handles her account told her that he wouldn’t charge her anything. Apparently, he does this out of the goodness of her his heart. That’s the first $10,000 lie.
Second, he told her that he would put her in a moderately conservative portfolio. That’s the second $16k lie.
Third, she needed $65k to pay off a Chevy Tahoe. When she asked him for money (from the investment accounts that he manages), he advised her (at 31 years old) to take the money out of her commercial annuity–a $19,250 mistake. ($6500 from the 10% penalty and $12,750 from the income tax generated from the annuity distribution.)
In short, this guy cost her $45,000 last year. He’s a crook, thief, and liar. If this isn’t criminal, it’s just shy of it.
^is he an ex DJ?
Wow thats brutal. Two sides to every story I suppose, and she could just be clueless and approved the stuff.
Side note: A chevy tahoe runs 65k? Thats more than I would have thought
^ The prices of tahoes/Suburbans have exploded in recent years. It’s crazy. 10 years ago they were only $30-35,000.
Sounds like a cheap one to me.