1/3/2024 0 Comments Affinity resourcesTo learn more, explore our series of articles about what financial advisors do and what it may cost to work with one, as well as what their titles mean and how to make a smart choice. Catchphrases, including "fee-only," can be helpful however, Americans often get confused with competitors promoting "fee-based" in response. Unfortunately, there is no single, uniform pricing standard for working with a financial advisor. Regulation Violations - Other Regulatory Agencies Order Entered - Other Regulatory Agencies Checks take place monthly.Īttorney/Accountant Authorization Revocation – SROīusiness License Revocation - Other Regulatory Agenciesįalse Statements or Omissions - Other Regulatory Agencies Our system found no other conflict questions to ask. In short, any financial professional should disclose all positions they hold (or have sold short) that they will also be recommending to you. For example, front running is when a financial professional buys or sell securities ahead of their client. While this often can be seen as "eating your own cooking," there are several inherent conflicts that can arise. Which securities does Affinity Wealth Resources trade for itself that it will also be recommending to me?Īffinity Wealth Resources has marked in their disclosures that they trade recommended securities. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their retail clients. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. This could be detrimental to a client during down markets.ĭoes Affinity Wealth Resources perform side-by-side management? How does Affinity Wealth Resources mitigate conflicts that arise from managing accounts with differing fee structures? For instance, research has shown that mutual funds that use incentive fees take on more risk that funds that do not, and tend to double down and increase their risk following a poor performance. While this may seem like an attractive compensation structure to ensure your advisor is making your money work for you, often, the managers of those products are incentivized to take inappropriate risks to beat their performance benchmark. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. Some firms receive these fees as payments, which creates an incentive to promote them.ĭoes Affinity Wealth Resources offer products that have performance-based fees, or does it accept performance-based fees? Will any of my assets be invested in those products? Learn more.ĭoes Affinity Wealth Resources offer mutual funds that have 12b-1 fees?ġ2b-1 fees increase the total annual cost of owning a mutual fund with no guarantee of higher returns. Checks take place monthly.Īfter checking the regulatory records of Affinity Wealth Resources, our system has identified the following question(s) to ask. LGBTQ+ Faculty and Staff Affinity Group: A group for faculty and staff who identify as LGBTQ+.After checking the disciplinary records of Affinity Wealth Resources, our system found no disciplinary questions to ask.QTPOC Affinity Group: A group for queer and trans students of color.Trans Affinity Group: A group for trans, nonbinary, genderqueer and gender questioning individuals. If you are an ally, this is not the space for you, but please email the LGBTQ Resource Center and we can provide you with resources and answer any questions. Groups are not open for observation or reporting. Please note that affinity group participation is free and open only to those who hold the relevant identities for each group. Please email the LGBTQ Resource Center for more information. Groups are open to members of the Syracuse University and State University of New York College of Environmental Science and Forestry (SUNY ESF) communities.
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