Lessons from yet another breach of trust

Paraphrasing Warren Buffett. When hiring someone you are looking for three things.
Intelligence, energy, and integrity.
If they don't have the last one, don't even bother with the first two

Unfortunately the latest Davy scandal did not shock us. This stock brokerage has been party to many scandals one of which involved "deliberate neglect" after it encouraged an orphan with learning difficulties to pour his inheritance money into highly risky investments that then went bad .In 2014, he told the High Court that he was left in “financial ruin” by the stockbroker.

Now Davy is be sold after which I have no doubt that a slick rebranding and marketing campaign will quickly follow.”

“It's not just business. It's personal” ,is the Davy slogan.

I see an Irish bank is now proclaiming it is focused on “Your well being “.This bank also wants to buy Davy. I hold little or no hope for a change of culture in either company.

Its vital that you ask the questions ,ideally at the first meeting, to properly assess whether or not the person you will be working with to improve your financial outcomes and well being is

Experienced

Qualified

Impartial

Researched

Unbiased

Trustworthy

Financial planners that want to have a long term partnership with you will be delighted to show you the evidence of how they meet these criteria.

To save time and money it is best to begin your search far away from large corporate institutions such as stockbrokers ,banks etc