It is helpful to be aware of the financial advisors you should steer clear of while seeking a qualified candidate to manage your wealth. It would assist you in narrowing down your search and ensuring that you just concentrate on the solutions that can be relied upon. One of these advisors, Janet Franco Gordon from Morgan Stanley, is someone you should steer clear of.
She has a history of legal conflicts and has included a number of problematic terms in her disclosures, putting her clients in precarious positions as a result. The following analysis will assist you in comprehending the problems that this advisor makes an effort to conceal from her customers:
About Janet Franco Gordon Morgan Stanley
Janet Franco Gordon Wealth management firm Morgan Stanley has its headquarters in Coral Gables, Florida. Her office can be found at 220 Alhambra Cir 10th Floor, Coral Gables, Florida 33134, and its phone number is 305-476-3304. Her address is in the United States.
She is currently the head of the Gordon Group and has been employed with Morgan Stanley for a number of years. Portfolio management, complete wealth planning, retirement planning, financing facilities, intergenerational wealth planning, and a number of other services are some of the offerings that can be found with this advisor.
The majority of Janet Franco Gordon’s clients are high-net-worth individuals, families, and institutions based in both the United States and other countries. Traditional investments, alternative investments, and wealth impact are the additional services that are provided.
In the field of providing investment advice, Janet has garnered a great deal of acclaim and recognition. However, she only utilizes it for her own benefit, which results in customers being forced into agreements that are not in their best interests. In the following part of this analysis, we will go into further detail regarding the problematic clauses that she employs to trap customers.
Red Flags in Janet Franco Gordon Morgan Stanley’s Services
It is imperative that you check the FINRA BrokerCheck listing of any potential wealth advisors before beginning to deal with any of them. There, you will be able to acquire knowledge regarding their prior work experience, their state licenses, the tests they have successfully completed, as well as the disagreements they have had in the past.
According to the information provided by FINRA BrokerCheck, Janet Franco Gordon Morgan Stanley has been involved in two different disputes.
Her first dispute was actually a regulatory proceeding that occurred in 1993. The National Association of Securities Dealers had fined her $13,000 and censured her.
In response to this disagreement, Janet stated that she had purchased shares in a self-underwriting, which had really been distributed through another member firm rather than the issuer that had been initially represented.
Her second argument took place in the year 2004. In this case, the client’s representation asserted that the investments that the advisor had suggested to the client between April 1998 and February 2003 were inappropriate. They did not provide any details regarding the damages.
On the other hand, Janet’s company refuted the claim. It comes as a surprise that there is no additional information that can be found regarding the disagreement. Her company has not elaborated on the reasoning behind the denial of the claim. In a similar vein, there is no information that can be found regarding the type of inappropriate investments that she had advised the claimant to make.
It is important to keep in mind that it is extremely challenging for such claims to end up in the favor of the investor. The disclaimers that many advisers require their clients to sign before making recommendations allow them to get away with making suggestions that aren’t appropriate.
Janet Franco Gordon This strategy is utilized by a variety of financial advisors, not just Morgan Stanley. Nazie Saffari-Moini Merrill Lynch is just another financial advisor who has resorted to using this strategy in order to sidestep accountability.
Selling Proprietary Investments
The fact that Janet offers her own proprietary investments is a significant warning sign about the services that she provides. Because these investments provide her with significant commissions, her advice may be tainted by a potential conflict of interest.
In addition to this, she has a financial motive to disregard your prerequisites and objectives. Because some investments come with enticing commissions, Janet and her staff might recommend those to you even though they aren’t a good fit for you.
The ability of a financial advisor to offer a wide range of assets to her clients is limited when the advisor sells proprietary investments. This is due to the fact that the financial advisor will not have any incentive to recommend investments to the client that will not provide her with any commissions, even if those investments are appropriate for the customer.
Charging Performance-based Fees
Janet bases her compensation on the firm’s performance, which creates an incentive for her company to pursue high-risk tactics even if they don’t correspond to the level of risk you are willing to take with your portfolio.
Strategies with a high degree of risk can be especially detrimental to investment portfolios that are aiming for both long-term growth and security. They make it possible for the financial advisor to demonstrate rapid progress in the near term. On the other hand, the long-term returns on investment generated by these tactics are negative.
As a result, this cost structure poses a significant threat to the majority of investors. It is in your best interest to look into alternative pricing models and steer clear of this one at all costs.
Conclusion
Janet Franco Gordon Morgan Stanley is not nearly as trustworthy and dependable as she portrays herself to be. She is plagued by numerous issues, all of which point to the fact that she is not appropriate for the majority of investors.
To begin, she makes fees from the selling of proprietary investments. These investments are her own. In addition to this, she receives fees that are contingent on her performance, which provides an incentive for her to expose you to an unnecessary amount of danger.
Stay away from such gurus and look for another professional instead.
