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Originally Posted by Gpsma
Trusted financial advisor? How long did you know whittaker before u gve him yoir momey to invest? You said you got him from recommendations…did people with serious financial knowledge recommend him to you?
Dont know where you invested before coming to TV but many here still keep their old advisors from up north. Advisors that they hve probably been with for decades.
Not defending whittaker if he didnt follow your instructions but, ultimately, we are all reaponsible to do due dilligence on any investment advice…its your money after all.
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As with most people, we built trust over time. Start with small investments and gradually build up a relationship with the advisor you are dealing with. I have said more than once that for the first few years of dealing with Michael L Whitaker and Associates things were good and we invested more and more with him. Maybe, in the beginning, Michael was satisfied with 2 or 3 percent commission but as his family grew and his financial needs changed he needed to either increase his commission per investment or increase his client base. He apparently thought he could do both by putting his clients at risk.