A dangerous with “fee only fiduciaries” is they may “churn” your money through unnecessary transactions that generate their fees and burns through your capital . Obviously, that would violate their responsibility as a fiduciary, but it happens. They hope you’re not paying close attention.
It all comes down to the possible conflict of interest. More trades = more commission? Conflict of interest. Bank products sold = more commission? Conflict of interest. I only work with banking partners that have zero conflict of interest.
I’m a US citizen and now that it’s obvious to me the oligarchy mob has more or less taken over the federal government and all that entails, and through my career being exposed to so much institutional corruption at the state level, I really just don’t want to invest all my money in the US other than real property. I have my liquid money largely parked in treasuries and I need to get off my butt and figure out what to do.
Hey Win, accounts in Switzerland are solely managed accounts, not „plain“ bank accounts. And the threshold is $1m. But simple transaction accounts, those can be opened in places like Panama, and the threshold to open one is lower.
A dangerous with “fee only fiduciaries” is they may “churn” your money through unnecessary transactions that generate their fees and burns through your capital . Obviously, that would violate their responsibility as a fiduciary, but it happens. They hope you’re not paying close attention.
It all comes down to the possible conflict of interest. More trades = more commission? Conflict of interest. Bank products sold = more commission? Conflict of interest. I only work with banking partners that have zero conflict of interest.
“Danger”, not “dangerous”. Sorry.
I’m a US citizen and now that it’s obvious to me the oligarchy mob has more or less taken over the federal government and all that entails, and through my career being exposed to so much institutional corruption at the state level, I really just don’t want to invest all my money in the US other than real property. I have my liquid money largely parked in treasuries and I need to get off my butt and figure out what to do.
Hey Brent, thanks for the comment, I DM'd you!
If I was to open a bank account in a Swiss bank, through your service, would I still need a $1 million?
Hey Win, accounts in Switzerland are solely managed accounts, not „plain“ bank accounts. And the threshold is $1m. But simple transaction accounts, those can be opened in places like Panama, and the threshold to open one is lower.
Thanks for this information. I will be making changes after Jan.
Great 👍🏻
I hold my private key I'm the asset bearer. Money defined in protocols where Maths verified. Sovereignty
#4 reminds me of REALLY *listening to* the lyrics of Tracy Chapman’s song over the past year or so… not just *hearing* it: Paper & Ink. (2000)
“Money's only paper, only ink
We'll destroy ourselves if we can't agree
How the world turns
Who made the sun
Who owns the sea”
TWENTY-SIX years ago.
The world we know will fall piece by piece