ALERT!!! Brokerage Firm employees rewarded for pitching annuities and portfolio management. In a recent (September 12) Sunday NY Times Mutual Fund and ETF section, there was a story about a couple who was sold an annuity with high fees and ruinous exit costs. The article further quoted a former Fidelity executive who explained that Fidelity employees were expected to sell annuities and portfolio management...for considerable fees....to Fidelity investors. If they didnt produce adequate sales of these services, they were in danger of termination. Our family has sometimes been aggressively approached with these sales pitches, and each time has rejected them, aware that they arent in our best interests. But others seem to have succumbed to such sales efforts. I consider this kind of investment policy highly unethical. What do you think?
Posted on: Sat, 25 Oct 2014 13:08:04 +0000
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