There are deceitful financial advisors who are motivated by greed and selfish ambition. Some even have the highest academic credentials and positions, and time spent in the financial world. They engage immoral tactics or illegal trade, often using great pressure to try to convince you that they can guarantee astronomical or at least uncommonly high investment returns. If you let them they will “Made-off” with the money the LORD entrusts to you.
Their dishonest sales tactics, investment churning, and/or illegal trade eventually leave you with nothing or very little of your initial investment. Many of them run Ponzi schemes by giving you statements showing investment return that is actually money that came directly from other bamboozled investors. This helps keep their dishonest scheme going as long as possible. It is possible your statements will be found to be fraudulent and thus you will not actually have any money available to you: principle or investment growth. In addition, any money actually given to you could be clawed back from you by bankruptcy attorneys when the schemer is found to be insolvent and the subject of federal or state regulatory actions.
The best antidote against this type of deceitful advisor is to discern the schemers, to only use a financial advisor who has a good reputation among Christians who are good money managers, follows principles of finance contained in the bible, and truly has your best interest at heart. Such advisors believe everyone should be pursuing total debt freedom, should not be of a mind to get-rich-quick, should believe steady conservative plodding brings great success, and believes you should diversify investments so none represents more than ten percent of assets.
Advisors with such beliefs put God first in everything they do and teach you to do the same. They won’t succumb to greed, deceit, undue pressure, and customer abuse. They will identify the best products and services they can offer while also teaching you how to obtain the best products and services when you find the need to shop other brokerage houses and financial institutions. They will teach you biblical money management principles that will bless you immensely throughout this life and eternity. In addition, they will help you wisely measure other financial advisors who approach you about managing or investing money. Their heart to help people by always seeking to please God lead them to deal honestly with you to find what truly serves you best.
Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!
Jeremiah 28:15-17, Ezekiel 13:20-23, Mark 12:38-40, Acts 13:4-12, Hebrews 2:1, 2Peter 2:1-3
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