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Cetera Advisors
Do any of you use this advisory company, or have any information about them? I live in a small town and they have an office in our local Community Bank.
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"In December 2020, Cetera Advisor Networks, Cetera Advisors, and Cetera Financial Specialists agreed to pay the Financial Industry Regulatory Authority (FINRA) a $1 million fine following allegations that the firms had failed to supervise their dually registered representatives."
Meaning they're basically a membership group ...
My recommendations are typically Fidelity, Schwab and Ameritrade.
And unless you're hardcore, with funds to lose, indexes and funds.
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Jim, the guy I’m thinking of working with has been with this bank (Forte)for 18 years. This bank is a small community bank that has been in our town since 1907. I am going to sell off the remaining stock we own and buy CD’s in the secondary market, plus a fixed annuity. Any stock sales will go through Pershing. I have looked him up personally and he has a clear record and proper licenses.
I did talk to both Fidelity and Schwab, but did not like their business model. Schwab runs all of their fixed income out of Chicago. I like to be face to face with a person when doing business with them. I’m old school. I was with B.C Ziegler, but they got bought out by Stifel. I don’t care for them at all.
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Be sure about the annuity ... lack of federal backing, exposure to failure, rules, etc.
If you really, really must engage, maybe consider doing a few to diversify a bit.
We have no interest in them. Of course, we learned about them in business school.
Never seemed like a good idea. It's like playing the ponies, with your retirement.
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