In San Francisco, where the market is very competitive, there are many financial advisers to choose from. Debbie Jorgensen: One of them is Merrill Lynch.
She has worked in the field for many years, but it seems like she is not putting her experience and information to good use. The advisor seems like a normal, skilled worker at first glance, but her disclosures show that she is not at all like that.
Her reports show that she takes money from her clients in unethical and greedy ways. In the review that follows, I’ll talk about the most important things she said:
Who is Debbie Jorgensen Merrill Lynch Wealth Management Advisor?
Debbie Jorgensen is a wealth management manager for Merrill Lynch, and her office is in San Francisco, California. Her office is at 555 California St 9th Floor, San Francisco, CA 94104, US, and her phone number is 415-676-2570.
Her business helps business owners, corporate leaders, and families with more than one generation. They also say that they learn a lot about their client’s financial needs so that they can be their main financial guide.
Debbie Jorgensen Merrill Lynch gives her customers some of the following services:
Holdings of a few stocks
Banking and taking care of money
Reporting and keeping track
Planning for education
Financial plans and estimates of wealth
Services for wills and transferring wealth
But the things Debbie Jorgensen and her firm have said show that her false claims are true. Debbie Jorgensen’s disclosures show that she and her team stand to make money if they ignore your needs and goals. They grow because of you.
In the next part of my review, I will talk about the sketchy parts of Debbie’s disclosures:
Why you shouldn’t believe what Debbie Jorgensen says Merrill Lynch: Recently, a client took the company to court.
You should look up a financial expert on FINRA BrokerCheck before you start working with them. It’s a database that tells you everything you need to know about an investment advisor, like how long they’ve been in business, what tests they’ve passed, what state licenses they have, and if they’ve ever been in trouble with the law.
On Debbeie’s FINRA BrokerCheck profile, there is a record of one legal disagreement. This fight happened on 5-22-2015. Here, the client said that from January 2015 to February 2015, he or she did not have permission to trade.
But Debbie’s Jorgensen company said that these claims didn’t have any truth to them.
There is no information about the amount of damages asked for. Still, it doesn’t look good that you were in court just a few years ago. It shows that Debbie Jorgensen Merrill Lynch and her company lack professionalism and morals.
Putting Fees of 12b-1
The fact that Debbie Jorgensen charges 12b-1 fees is a big red flag. The 12b-1 fee goes to the advisor’s pocket and doesn’t help the stock in any way. It also has no effect on how well the investment does, so you pay more for nothing.
It is also added to the total cost ratio of a fund as a percentage. So, clients with bigger holdings (more assets) have to pay more. The more investments you have, the more you will have to pay.
Debbie Jorgensen and her team have a financial reason to ignore cheaper and more fair options, even though they are out there. The performance of investments that charge a 12b-1 fee is the same as the performance of investments that don’t charge this fee.
In other words, the 12b-1 fee is a way for financial planners to steal money from their clients in an unethical way. You should be wary of financial advisers who charge you this fee because it’s bad for your long-term financial health.
Companies that pay you a commission
When you work with a boutique financial manager, you hope to get high-quality advice that fits your financial needs and goals. But if your advisor makes money from selling certain stocks, you can’t trust what they tell you to do.
This is because your expert has a reason to suggest investments that are not in your best interests.
The Broker-Dealer Disagreement
Debbie Jorgensen is a broker-dealer as well as a financial planner. She can get paid by different companies to sell their investment goods to other people because she is a broker-dealer.
Research has shown that being a broker-dealer hurts the level of service that a financial advisor gives. This means that financial advisors who are also broker-dealers don’t give their clients good service.
When you’re a broker-dealer, you have a lot of different conflicts of interest, like when you cross-sell goods that pay commissions. Like making money from commissions, being a broker-dealer is a big reason why most people get bad advice or are misled.
After reading Debbie’s terms and conditions, it’s clear that she doesn’t care about her client’s finances. Her company is doing everything wrong, from charging clients for things they don’t need to recommend items that aren’t right for them.
Many buyers don’t know about these problems until it’s already too late. Most of the time, the advisor gives her clients bad advice, which means they don’t get the best results.
Because of this, you should pay close attention to the small print and look for someone who cares about his or her customers. If you want to keep your money safe, you should stay away from Debbie Jorgensen, Merrill Lynch.