Who is Brent Hablutzel, anyway?
Greenwood Village, Colorado-based financial management advisor Brent Hablutzel works for Merrill Lynch. His business address in Greenwood Village, Colorado is 6400 S Fiddlers Green Cir, Suite 1100. This office can be reached by phone at (303) 689-8002 Monday through Thursday between 7:30 am and 4 pm.
Brent is the company’s MD and holds the credentials of CPWA, CPFA, and CRPC. His company, the Hablutzel Group, promotes itself as one that tailors its services to each client by learning how they respond to risk, return, and market changes.
Business owners, executives, and wealthy individuals make up the bulk of Brent Hablutzel and his team’s clientele. Trust and estate planning, disability insurance, mortgage loans, concentrated stock management, charitable giving foundations, and more are all available here.
Predatory Provisions and Disputes at Brent Hablutzel’s Company
Controversy Over Misrepresentation
Checking a financial advisor’s background on FINRA’s BrokerCheck is a good idea. You can look up an advisor’s certifications, work experience, education, state licensing status, and disciplinary history, as well as any legal conflicts they may have had, in this database.
In 2015, one of Brent’s former clients lodged a formal complaint against him. In May 2015, they claimed that the company had lied to them about a retirement plan rollover, although the company has since refuted these allegations. There is, however, no additional data about this dispute.
There is no mention of any compensation demands or other details in the FINRA BrokerCheck record. Misrepresentation claims are still serious business that might result in a lawsuit. This should be a significant warning flag for any astute investor since it shows that Brent Hablutzel does not always prioritize his clients’ interests over his own.
Keep in mind that it is extremely challenging for a client’s side to win in court. Class action lawsuits typically result in favorable settlements for their clients. That’s because, before having you sign anything, advisors make sure they’re completely off the hook.
In 2015, Brent used this strategy to cover up his deception. This is a common tactic used by untrustworthy advisors to shift the blame elsewhere. This was the strategy employed by The McKelvy Group Morgan Stanley to get out of paying over $50,000 in damages.
Disposing of Privately Held Assets
Brent’s main source of income is the commissions his company earns whenever they sell an exclusive investment. There is nothing inherently unethical about selling your stocks as a financial counselor, but doing so creates several potential conflicts of interest.
For one thing, it encourages the advisor to put their interests ahead of the client’s when handling their finances. Because they may put their interests ahead of yours when making recommendations, it becomes quite difficult to put your trust in such advisors.
The limited number of securities that can be recommended by advisors that sell proprietary assets is another drawback of working with such types of advisors. No investment would get their stamp of approval if it didn’t bring in commissions. Because of this prejudice, the advice your financial advisor gives you may be harmful to your long-term financial success.
One major motivation for advisors to recommend inappropriate investments is the desire to sell their products. Poor advice from the advisor typically results in higher fees for the advisor and lower returns for the customer.
If your advisor sells proprietary or connected investment products, these are issues you should discuss in depth.
Dealer-Broker Tensions
Financial advisor and broker registrations are active for Brent Hablutzel. There may be several potential conflicts of interest as a result of this. Mutual fund revenue sharing, favoring related mutual funds, and collecting transaction and asset-based fees on the same securities are all examples.
Despite ongoing efforts by regulators to keep such advisors in control, they can’t scrutinize every last detail.
Researchers have shown that dual-registered advisers fall short of the required “fiduciary” level of service. Investors who work with brokers who are also registered as advisors pay greater costs. They also promote underperforming mutual funds to their brokerage clients, although they favor the institutional share classes of those funds.
All of these are important considerations when working with dual-registered advisers like Brent Hablutzel.
Avoid Hablutzel, Brent Merill Lynch
Hablutzel, Brent For the vast majority of stockholders, Merrill Lynch is not the best option. He sells securities to his customers, not merely recommends them. The two are very different from one another. You want your advisor’s investment recommendations to be driven entirely by how well they fit into your existing holdings. Brent, on the other hand, only suggests investments that will net him the highest commissions.
Another major red flag is his checkered past as an advisor. Avoid Brent Hablutzel if you need the services of a money manager in Greenwood Village; he doesn’t give a hoot about his clients.
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