If women do not know the difference between using a financial advisor for (1) financial planning and (2) for the process on how to select an investment, chances are they will be sold products that do not suit their needs, pay fees in excess of what is necessary and limit the future performance of their nest egg.
Not On My Nickel assists women in understanding the difference between financial planning and investment selection. We are here to help you understand why in most cases you will never want to pay a “financial advisor” an annual fee for assets under management and when to pay a financial planner. It is imperative to have the tools and education to understand the difference.
Not On My Nickel is the first independent financial education service for women
Not On My Nickel was developed to meet a gapping hole in the investment industry today. We assist women in understanding the difference between hiring a “financial planner” for overall financial planning and an “adviser” registered with the SEC who actually manages a portfolio of stocks and bonds. There is a significant difference. We explain why you most definitely want to unbundle these services to ensure you are not taken advantage of.
How is Not On My Nickel education service different from a financial advisor?
- Not On My Nickel believes in empowerment. We do not provide advice. We believe in providing the services that give every women the confidence to make a financial decision and the tools to do so. We focus on the tools and training to help you understand investment selection. We help you understand how to Benchmark – an investment or an advisor.
- We show one how to avoid hidden advisor fees and excessive investment fees.
- We separate the “planning” and budgeting from the investment selection. While you may want a “financial planner” to help you with a budget and an overall plan, we strongly encourage all women to go through Not On My Nickel’s education to understand how to select an investment and what investments are in your best interest, after all fees. We show you how investment selection is different from the financial planning process and why you must know the difference to protect your nest egg
At a recent financial panel provided by 85 Broads, the panel, linked to above, informed the group of women:
“The panel also acknowledged the sometimes-ridiculous complexity of the financial services industry….be it the characteristics of the different types of Financial Advisors, the features of products like annuities, or simply the difficulty in determining fees. While this type of complexity can be a deterrent, the panel urged the audience to find an Advisor with whom they are comfortable to guide them through this.”
Not On My Nickel cautions women, remember this panel is selling financial advice and investments. It is in their interest to keep it complex and overwhelming. The first step and the biggest mistake most women make is not understanding how to use an “Advisor” and when and why you may or may not need one.
Not On My Nickel is the first service that helps you understand this “ridiculous complexity” from a neutral third party. We are not an advisor. We are not selling advice services or financial products. We do provide a second-opinion on what type of advisor you may need or even if you need one. We give women tools to understand how and when to use an advisor and the wisdom to know when not to.
The complexity in the financial services industry has been created by the industry to ensure you will be confused, overwhelmed and (1) pay more for the services of an advisor and (2) buy more expensive product from the advisor.
The first step is understanding what services you need and what services will add value in your situation. 85 Broads assumes everyone must must have an advisor. Not On My Nickel gives you the tools to determine if their assumption is correct for your personal situation.
Not On My Nickel’s founder began her career in international banking and has over 30 years financial experience in all aspect of the markets today – whether that be in financial planning, insurance, retirement investing, investing a lump sum and the training and education of analyzing mutual fund fees, advisor fees, to complex financial products such as options (Series 4), over-the-counter derivatives and foreign exchange hedging.
Not On My Nickel’s founder believes one of the most important things for women in investing (and men for that matter) is to understand benchmarking and how to use it to judge all investment advice. Understanding this simple process will provide the confidence in every investment decision and eliminate fraud and Ponzi schemes.
What Do We Provide?
Not On My Nickel provides hourly educational services to women:
- Going through a divorce
- Recently lost their spouse or partner
- Recently inherited a lump sum or received a lump sum from an accident.
- Want extra help in understanding how to manage their retirement nest egg, whether that be in a 401(K) or in an IRA.
We provide hourly education to help you make a decision to determine if you need an advisor, how to use the advisor and the tools and training to understand any investment selection. We give you the confidence to believe any decision is the best decision at that point in time. Not On My Nickel is not “Do It Your Self” from the standpoint of investment selection. It is the new world order where you understand who is actually managing your money – the trusted fiduciary portfolio manager, who can provide you 5, 10, 15 years published performance that you can compare against a meaningful benchmark. You have the confidence in your investment selection and know exactly where you money is going, how and why that investment is selected and exactly how much it costs.