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Advisers can vaporize your money but have no insurance to pay you back

Brian Livingston
Advisers can vaporize your money but have no insurance to pay you back

The worst nightmare for individual investors is a financial adviser who loses a big chunk of their life savings on a wild bet. This coverage is designed to pay off investment clients whose advisers make mistakes, choose unsuitable investments, or simply execute dumb decisions that cost investors a significant amount of money. Unfortunately, when RIAs decide to save money by skipping E&O insurance, the people who pay the price for investing mistakes are too often the clients, not the firms.