Wednesday, June 11, 2008

Beware the touts.............

In the hazy summer heat you might want to put your guard around your money if you are a client of a major brokerage house. When things get slow and markets are non-trending to trending down the brokers are in need of commissions and fees.

It's each man for himself when dealing with Wall Streets legion of salesmen.

Here at Chippewa Partners we take calls from every type of brokerage firm available. The latest and newest pitches usually contain the words "structured" or "guaranteed" or "notes". All words that should put up your line of defense when listening to a pitch.

The "fund of funds" crowd is growing thin. The actively managed ETF crowd is growing in popularity as the fees grow proportionally to the amount of "management" involved.

These "hybrid" brokers that split their time between acting as a fiduciary and a salesmen are the latest twist in the saga of parting clients from their hard earned money. Beware the touts.

Your best bet is to hire a fiduciary firm. And that is guaranteed.

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Native American Advisors CHIPPEWA PARTNERS

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173