NJ Fee Only Investment Advisor, and guidance for your 401k account. Mullooly Asset is a fee-only alternative to stockbrokers and financial planners.
Have you been sold a mutual fund by a stockbroker? There is probably a reason why this happened, and Tom explains what that reason is in this week’s Mullooly Asset Management video. Tom uses a real story to explain why brokers are more inclined to suggest buying mutual funds. Even though a clear alternative [...]
Ever wonder why brokers sell mutual funds? Tom has a story to share about it, and that is the topic of the Mullooly Asset Management podcast this week. Tom is part of the Finance Committee for his local parish. They have a large brokerage firm that manages their investments. The parish’s account is full of [...]
It is astounding how many investors don’t know what a fiduciary obligation is. In this video Tom and Brendan talk about fiduciary obligation and what it means. Investment advisers have a fiduciary obligation to their clients. This means that they must exercise prudence when giving their clients advice. Their advice must also be suitable [...]
This week on the Mullooly Asset Management podcast Tom and Brendan talk about the big differences that exist between investment advisors and brokers. The first step in understanding the differences between the two comes from knowing what a fiduciary is. Tom explains to Brendan that a fiduciary is the person who looks after assets on [...]
There are big differences between investment advisors and brokers in New Jersey (or stockbrokers, financial consultants, financial advisors, etc) and all around the United States. One group (stockbrokers and financial consultants) work for (are employed by) brokerage firms, banks and insurance companies. For 401(k) advice, look towards an investment advisor for help. Now, investment advisors [...]
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