Today we get another taste of Todd Langford's intellectual wisdom! this time, he details his convictions around the financial industry, how in order to follow fiduciary responsibility advisors should be paid “Fee-Only” and also explains what advisors can do with their clients when they come to them concerned about commissions.

To learn more about the Prosperity Economics Movement

http://prosperityeconomicsadvisors.com/how-to-keep-your-mindset-positive-bonus-episode

Show Notes

• Creating another rule  - 2:23
• We have become a rule-driven society - 2:30
• Changes in people's morality - 3:18
• What is right and what is wrong? - 4:15
• Todd's story - 5:10
• A rule against morality - 6:54
• Fiduciary responsibility in the financial world - 8:01
• Who decides what is best for the client? - 8:50
• The fiduciary rule means fee-only - 9:20
• What happens on the fee-only side? - 9:50
• Educating your clients on what is best for them - 10:10
• The moral component - 10:45
• It all comes down to morality - 10:54
• Why fee-only is dangerous - 11:18
• Moral laws are not the answer - 12:04
• The fiduciary concept: legal vs moral - 13:00
• A movement of advisors - 17:40
• Being an advisor with integrity -18:40
• Understanding the commission based model - 20:21
• Life Insurance Commissions - 21:45
• Letting our principles guide our decisions - 22:07
• The power of certainty for a client - 23:23

 

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