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Dec 20, 2005 -- Brokerage firms take kickbacks to dupe you

There are some serious problems going on in the brokerage world these days. Full commissioned stockbrokers get massive amounts of money to recommend specific mutual funds. That wouldn’t be a bad thing if these funds weren’t complete trash. Even worse, the Feds don’t require any kind of disclosure about these funds from brokerages. A lawsuit sprung up recently in California because of the lack of disclosure, but it was just dropped. So, if you go to a stockbroker for the purpose of opening an account and making money, Clark wants you to be warned. The brokerage may be working entirely for themselves. Now, you may feel uncomfortable buying your own funds, and you’d prefer someone to do it for you. That’s fine. But if you choose to hire a brokerage, you want one that is commission free. How do you find out? Your first step is to read the online courses at latimes.com. Start with Investing 101.

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