You are not a 'Client' but 'Strategic Money'

If ever you were called a 'client' by your financial 'adviser' at BankAmerica's Merrill Lynch unit you should think about this for a moment: how can you be a 'client' and 'Strategic Money' at the same time? The word client means that you should be protected by the adviser. But if this Adviser is acting as a commissioned salesman it is difficult to think that he will always put your best interests ahead of a sales commission he or she can earn by proposing a financial product or transaction.

Are you paying for Broker Junkets in Hawaii?

A clear sign that the Brokers (as well as Private Bankers) are above all else supposed to generate commissions. That is how they are measured, not how well they manage their clients' portfolios. Have you ever tried to get a clear performance statement before engaging someone to run your money? It compares with having your teeth pulled out. If you get a decent performance for your portfolio you should also check whether it was pure luck or real skill that was behind the numbers.

For Top Brokers, Junkets are back, Hello Hawaii (Wall Street Journal)