A second opinion on financial advice


Q. My wife and I have spoken several times to someone affiliated with the Society of Financial Analysis, who has portrayed his role as a fiduciary agent, rather than a suitability agent. He has offered investments in tactically managed funds that seem to have relatively good performance since the financial crisis of 2008; however, the fees for these funds at 2.5 percent to 3 percent seem unusually high. He was suggesting I take some of my TSP funds and do a one-time investment in these funds. What are your thoughts on this matter?

A. I have never heard of the Society of Financial Analysis and can’t find any reference to an organization of that name online, so that’s strike one. Recommending tactically managed funds based on their recent track record is strike two. Recommending investment securities with sky-high expense ratios is strike three. He’s out.


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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