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Conflicts of interest, bank backflips, deceit, misrepresentation, manipulation, plagiarism, abuse of power, technical lies and straight out fraud: Media Watch has built an unrivalled record of exposing media shenanigans since it first went to air in 1989. Media Watch
Patrick: Welcome to Financial Fortress Radio. This is Pat Dougher. Richard Jordan, you are the Chief Investment Strategist for DFW, and it’s always good to hear from you and hear the things that we’re going to talk about. I know we’ve got a great show lined up to talk about an area that is – well, a lot of people think it’s real conservative investing, but you have a different opinion. Richard.
Richard: Thank you, Pat. We’ve got a bond bubble going on out here. Pat, it’s just a lot of fear that has driven people out of the market the last three years, and a record amount of money has been poured in the bonds, and the rates are 25-year low and these folks are set to be whipsawed by the market big time. They could lose as much or more than they lost in the 2008 stock market crash, and they’re not hearing about their brokers because their brokers are driven by commissions.
Patrick: Well, I know that there’s also a ton of just “stay where you’re at, hunker-down; don’t move because you’re afraid of making a decision anyway” is already out there – a lot of fear. Wouldn’t you agree?
Richard: I agree, but buy and hold quit working in the 1990s.
Patrick: Right, you’ve got to be a little bit agile now with everything is going on, don’t you?
Richard: You need a professional.
Patrick: I agree. Well, while we’re talking about, it’s always good to say, why are we doing the show, Richard?
Richard: Well, we do this show for a number of reasons. First, of course, it’s a way to get the message out there on how we’re different. So, let’s talk a little bit about Fortress’ mission statement.
Our mission statement is to demonstrate leadership investment advisory practices for clients driven by the golden rule standard – to treat others like you who’d like to be treated. What an idea.
Patrick: Yeah, really, go figure. I thought that was – it sounds like though that’s part of even the whole registered investment advisory format.
Richard: It is.
Patrick: In the 40s, it was set up as an alternative to the brokerage system, wasn’t it?
Richard: It was set up in 1940 by Congress because the wealthy people said, “We do not want to deal with stock brokers who are driven by commissions; it’s a conflict of interest. We want someone who will act as our fiduciary.”
Patrick: And that’s the big part of what Fortress is all about, wouldn’t you agree?
Richard: Exactly. So, we act as a fiduciary and a trusted advisor for all our clients, always putting their interest and needs ahead of ours. We advise clients on how to maximize their financial opportunities with the appropriate levels of risk and taxation that each client needs and no more, and how to avoid the common practices in the stock brokerage industry that result in poor performance and unnecessarily high fees and taxes.
Patrick: That’s good, having somebody on your side of the fence rather than conflicted opinion.
Richard: And we believe that all investors, but especially seniors, deserve advice that avoids these conflicts of interest. We believe all clients deserve factual information about the brokerage industry’s primary areas of conflicts of interest.
For instance, collecting both investment commissions and fees on investments from the clients is how the industry operates. The confusion comes in here because 95% of the Registered Investment Advisors also carry brokerage licenses creating this conflict of interest.
But, at Fortress, we don’t allow our people to carry both. We do not have that conflict of interest. Second, from recommending proprietary investments that are only available at the brokerage funds and that results in higher compensation and commissions for the brokers and their managers. Does that sound like a fair game to you?
Patrick: Well, it’s always good. It’s one of those things where if you’re not basically saying one thing out of, one side – well, let me back up and say this way: it’s consistent with what people really want and that’s someone that is on their side Financial Fortress Radio 06-04-10 with Richard Jordan RIA and Patrick Dougher

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