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  1. #1
    Join Date
    Oct 2008
    Posts
    454

    Unregulated Financial Advice

    'Unregulated financial advice in insurance market increasing’


    Momentum is growing for the creation of a self-regulatory mechanism for regulating financial advisors in the media.

    “For a long time, we have been feeling the need for regulating those acting like financial advisors. As the problems due to unregulated financial advice are more in the media than in other sectors, we have taken the lead to put a system in place soon.”

    At present, financial advice was being rendered by many in media houses, and those hiding behind the anonymity of the internet while pushing some unknown agenda.

    “The damage can be severe if this advice is not done in a professional manner,” he said.

    On the nature of the proposed regulator, the body should be a self regulatory organization. “Already some brokerage and media houses have this mechanism in place. The regulation should be a model code of conduct.”

    Congress had already written to other regulators for their inputs and views on the proposed regulatory body and “no time frame can be given” for its creation.
    Last edited by theme; 11-03-2010 at 10:59 AM.

  2. #2
    Join Date
    Oct 2008
    Posts
    454

    Dave Ramsy

    http://building-leaders.com/files/Li...lue%20Life.pdf


    Dave Ramsey's advice


    "for many years, and every day he keeps it, he's
    being ripped off more. If he's been screwed
    over for 20 years, does
    keep getting screwed over? This is the worst
    financial product that the middle class buys.

    Don't put money in a pocket that has a hole in
    it."



    At this point the policy is likely increasing in value more than the current premiums paid. It could be double or even triple at this point depending on the policy owned.

    There is likely as much cash value as premiums paid which means the only thing lost was interest on the premiums paid.

    But wait; he had life insurance all those years so now the cost of the insurance, to this point, is interest on his premiums.

    Now he is in a position where his cash value increases greater than his premium every year and he also has his insurance.

    This Ramsy ought to be sued for as much as he is worth for this poor , unregulated financial advice.






    Last edited by theme; 11-07-2010 at 04:12 PM.

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