Keeping Your Money Safe From Shady Advisors

Keeping Your Money Safe From Shady Advisors
First Minister Nicola Sturgeon opens Scotlands first independent safe deposit box service in Glasgow, Scotland, on Feb. 19, 2016. Jeff J Mitchell/Getty Images
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Don’t be stunned when I tell you this. But, you can’t trust every financial advisor out there. I mean there really are people out there like Matthew McConaughey’s character in “The Wolf of Wall Street” conducting some really dirty business, which means your money may not be safe with them.

In fact, according to one study, 7.3 percent of financial advisors in the United States have been cited for abuse. If you dig deeper into the data, though, one in 12 financial advisors in the U.S. has been cited for misconduct.

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