is more true because it is elegant."
— St. Augustine, Confessions
Saint Augustine’s words are as relevant
today as they were 16 centuries ago. Your broker
is persuasive. He is friendly, personable, funny,
knowledgeable, considerate, successful, charismatic,
and interested in your family. He is the kind
of guy you’d like to hang around with outside
the office. Of course he is. He’s a salesman.
He is good at it because his livelihood depends
on it. But, has he told you that he gets paid
more for selling you certain kinds of investments?
Has he told you about the incentive
trips he earns by reaching a certain level of
sales in a quarter or a year? Do you know how
many previous customers have accused him of being
reckless with their retirement money? As St. Augustine
knew, charisma is no predictor of character.
goes before destruction and a haughty spirit before
a fall." —
In his time at the SEC, IW’s founder
saw all manner of investors fall victim to fraudulent
investments or reckless brokers. Accountants,
Actors, Astronauts, Business Owners, Doctors,
Engineers, Entrepreneurs, Factory Workers, Lawyers,
Mechanics, Ph.D.’s, Retirees, and Scientists.
They all had two things in common. First, they
trusted the salesman based upon his presentation
or a referral from a friend, with no independent
verification of his claims or his credentials.
Second, they believed that they were too smart
to be taken in by a salesman.
You need a specialist: Investor’s