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Tag: advice

As a voodoo-practicing advisor is convicted, here's how to avoid the nightmare of bad money advice

As a voodoo-practicing advisor is convicted, here's how to avoid the nightmare of bad money advice

Finance
We've all heard of voodoo economics, but voodoo investing? Noted Washington, D.C.-area radio personality and former financial advisor Dawn Bennett was convicted earlier this week of fraud, found to have bilked 46 listeners, advisory clients and friends who trusted her out of some $ 20 million in a Ponzi scheme. Prosecutors say she used voodoo in an otherworldly attempt to escape justice. Founder and CEO of Bennett Group Financial Services (now a defunct firm) and the host of weekly radio program "Financial Myth Busting with Dawn Bennett," Bennett reportedly used investor money to pay Hindu priests in India for ceremonies to w...
Tesla's accountant quit after concluding Musk was ignoring go-private advice

Tesla's accountant quit after concluding Musk was ignoring go-private advice

Finance
Tesla's now former chief accounting officer, Dave Morton, quit the company after concluding CEO Elon Musk wasn't interested in accounting details around a potential take-private transaction, according to people familiar with the matter. Morton resigned Sept. 4, according to a company filing released on Friday. Morton said in the filing "the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations." Morton joined Tesla on Aug. 6 after Tesla approached him for the chief accounting job. Morton saw an opportunity to work with a visionary such as Musk and make life easi...
Over 40s health check to include dementia advice

Over 40s health check to include dementia advice

Health
People over 40 in England will be given advice on dementia as part of their free NHS health check.Guidance on how to reduce the risk of dementia will be given to patients at GP surgeries and through community health programmes.Public Health England (PHE) said up to one-third of dementia cases could be improved through lifestyle choices. But its says 28% of people have no awareness of risk factors and only 2% know what they can do to reduce them.The planned roll-out follows a small pilot conducted by PHE, with the help of Alzheimer's Research UK and the Alzheimer's Society, which led to both charities calling for it to become mandatory. What is the NHS England over 40s health check? Recommended every five years for those a...
Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Finance
If you're a financial advisor who is still giving clients advice based on today's life expectancy and goals, chances are you need to go back to the drawing board."Most of the advice you are offering is fatally flawed, and I would even argue criminally negligent," Ric Edelman, founder and executive chairman of Edelman Financial Services, told attendees at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida, on Wednesday."If you continue to give the advice to your clients that you are currently giving them, you will soon be out of business," Edelman said.Rapid technology advances coupled with changing life plans will fundamentally alter the way we live. And most of the financial plans that advisors come up with for clients are stuck on outdated expectations, said Ed...
Career advice you hear all the time that's actually bunk

Career advice you hear all the time that's actually bunk

Finance
Five steps to ace that job interviewPeople love to give advice. And you're especially likely to get an earful when you're just starting out in your working life. But getting pro tips from everyone from your roommates or parents to your coworkers or bartender can be overwhelming. It turns out that a lot of what you hear, you should just ignore. Research, evidence and the current job market suggests there's better advice to take. "Follow your passion" This go-to advice for inspirational posters and graduation speeches often leaves people spinning their wheels. The suggestion to "follow your passion" depends on two assumptions, says Cal Newport, author of "So Good They Can't Ignore You," a book that challenges the belief that "follow your passion" is good advice. This trope assumes, he say...