You might come across the name Lawrence Haertel UBS if you are seeking a financial advisor in Greenwich, Connecticut. This is because Lawrence Haertel UBS is located there. Even though he has several decades’ worth of knowledge in the sector, he is utilizing it to his advantage to take advantage of naive investors.
Before you ever contemplate doing business with him, you absolutely have to be aware of the many dangerous terms that are included in his disclosures. The analysis that follows will be of use to you in comprehending them:
Concerning Mr. Lawrence Haertel, UBS
Financial advice is provided by Lawrence Haertel UBS, which operates out of Greenwich, Connecticut. His office may be reached at the number 203-862-2179 and is situated at 100 Field Point Rd, Greenwich, Connecticut 06830, United States.
At his company, Lawrence serves as the Managing Director of Wealth Management. He provides his services to families that span multiple generations, trusts, individuals, and organizations that are not-for-profit. Lawrence asserts that he is able to assist his clients in the process of building individualized investment strategies by developing essential blueprints.
He has racked up an impressive number of honors and successes throughout his lifetime. However, he is utilizing them in order to divert the attention of naive investors away from the particulars that are significant.
Concerning Mr. Lawrence Haertel, UBS
Financial advice is provided by Lawrence Haertel UBS, which operates out of Greenwich, Connecticut. His office may be reached at the number 203-862-2179 and is situated at 100 Field Point Rd, Greenwich, Connecticut 06830, United States.
At his company, Lawrence serves as the Managing Director of Wealth Management. He provides his services to families that span multiple generations, trusts, individuals, and organizations that are not-for-profit. Lawrence asserts that he is able to assist his clients in the process of building individualized investment strategies by developing essential blueprints.
He has racked up an impressive number of honors and successes throughout his lifetime. However, he is utilizing them in order to divert the attention of naive investors away from the particulars that are significant.
The conflict between Brokers and Dealers
Lawrence holds licenses to practice both as an advisor and a broker in the financial industry. Because a financial advisor is expected to put the interests of his clients before his own interests, this is a major warning sign. However, because he is dual-registered as a broker, his customers are put in a position where they may be subject to a number of conflicts of interest.
Among these are the following: earning asset-based fees and transaction-based commissions on the same investment; revenue sharing from mutual funds; and giving connected mutual funds preferential treatment. In spite of the fact that authorities maintain a careful eye on dual-registered advisers, it is impossible for them to scrutinize every single minute detail.
The fees that these advisers charge their retail customers are typically higher than the fees that they charge their brokerage customers. In addition to this, they give institutional share classes of failing mutual funds higher priority than the share classes that they promote to their brokerage customers.
According to the findings of certain studies, financial advisors who are also registered as brokers do not live up to the requirements of the fiduciary standard.
When you work with a dual-registered adviser like Lawrence Haertel UBS, you get biased advice and recommendations that are based on how much commissions they produce for Lawrence. This means that the advice and recommendations you receive are not in your best interest. In point of fact, the recommendations should be judged based on how well they correspond with the criteria and goals you have set for your finances.
Advisors are encouraged to neglect their clients’ goals in order to maximize their commissions from mutual funds.
Because of this, you need to keep a safe distance from counselors like that.
Conclusion
There are a lot of warning signs to look out for with Lawrence Haertel UBS. If you are a customer of Mr. Haertel’s, you need to exercise utmost caution with regard to the suggestions that he gives you.
It is in your best interest to conduct a thorough analysis of your investments in order to determine which of them are producing commissions for him. This will provide you with a general notion of how much trustworthy counsel Lawrence has offered you up to this point.
