Capitol Wealth Management Group, located in Capitol The Washington, DC office of Morgan Stanley is widely recognized as one of the city’s premier financial advice businesses. However, in order to take advantage of its customers and the money they have provided, the company is engaging in unethical business practices.
Their disclosures contain a number of problematic elements, which place their customers in adverse circumstances. In addition, the disclosures made by the company suggest that they are a poor choice for investors who have limited tolerance for risk and huge investment portfolios. Additionally, the creator of this company, Marvin Mcintyre, has a very checkered past filled with legal battles and disciplinary proceedings.
In the following analysis of Capitol Wealth Management Group, you will learn about the several problems that are reflected in the company’s disclosures but which the company makes a valiant effort to conceal.
The Capitol Wealth Management Group: A Brief Introduction Morgan Stanley
Capital Wealth Management Group, located in Capitol Wealth management services are provided by Morgan Stanley in the nation’s capital. Their office may be reached at 202-776-1381 and is situated at 1747 Pennsylvania Avenue NW, Suite 900, Washington, District of Columbia, 20006, United States.
The company asserts that it can provide individualized guidance and wealth management services of world-class caliber to its clientele. They provide their customers with a variety of services, such as asset management, methods for estate and tax preparation, retirement planning, insurance, and lifestyle preservation planning.
Additional services include philanthropy management, investment management, risk management, and corporate services 10b5-(1) program administration.
Marvin Mcintyre, a renowned figure in the business of finance and the founder of this company, has been honored with a great number of plaudits and awards over the years. In addition to him, the following individuals serve in the role of managing director for this company:
- Donald Metzger
- David Gray
- AJ Fechter
This company also asserts that it places a strong emphasis on knowing the personal circumstances, family dynamics, and financial profiles of each individual client in order to provide individualized solutions. However, when you consider the predatory conditions that are included in their disclosures, each one of these arrogant statements appears to be a fabrication.
For instance, the advisors working for Capitol Wealth Management Group have a financial incentive to ignore the specific demands that your portfolio places on them. More about this can be found in the following part of this review down below:
Red Flags in the Capitol Wealth Management Group You Should Know
Marvin Mcintyre’s History of Legal Disputes and Conflicts
Whenever you’re looking for a wealth advisor, it’s best to check their FINRA BrokerCheck listing. This database gives you vital information about your advisors such as their qualifications, industry experience, state licenses, and the disputes they have faced.
The FINRA BrokerCheck profile of Marvin Mcintyre shows two disputes. His first dispute is actually a regulatory action. The National Association of Securities Dealers, Inc had taken regulatory action against Marvin in 1993 and fined him $73,675.
Selling Investments Instead of Recommending Them
The advisors at the Capitol Wealth Management Group make money by selling the proprietary and affiliated investment products of Morgan Stanley. In theory, there’s nothing wrong in selling proprietary products but in practice, it leads to a plethora of conflicts of interest.
Different proprietary products offer different commissions to advisors. Hence, they tend to “sell” the investments that offer them higher commissions. This clouds their judgment and makes it extremely difficult to trust their recommendations.
You are unable to put your faith in the suggestions of your financial advisor as long as you are uncertain about which aspect of their work they value more—your expansion of wealth or their own. Because there are only a few investments that generate significant levels of commission, the range of suggestions that an investment advisor can provide becomes quite restricted.
Because your financial advisor urged you to put your money into a select few companies, you run the risk of missing out on many lucrative investment opportunities.
There are a lot of individuals who don’t pay attention to this, but one of the reasons financial advisors give their clients advice that isn’t appropriate is because they receive money from commissions. In addition, due to the multiple releases that you are required to sign at the beginning of your professional engagement with your adviser, you are unable to hold them liable in the event that they provide you with advice that is inappropriate.
There are a lot of dodgy advisors out there that put their own financial gain ahead of the development of their client’s businesses. One notable example of such a financial advisor is Lisa Detanna, who works for Global Wealth Solutions Group.
Due to the existence of this provision, you are unable to put any stock in the suggestions that are provided to you by the Capitol Wealth Management Group.
Conclusion
It should come as no surprise that the Capitol Wealth Management Group is not a strong recommendation for the vast majority of investors. The company makes a lot of money by making suggestions that are slanted, and the company’s advisors are given a financial incentive to ignore the needs of the company’s customers.
Additionally, the founding partner of this company has been disciplined in the past for inappropriate behavior and has been accused of making false statements in the past. All of them should serve as major warning signs. If you are concerned about the state of your finances in the future, it is in your best interest to steer clear of doing business with this company.
Find a new wealth advisor in the Washington, District of Columbia area because the current one is unsatisfactory.
