Frequently Asked Questions


            The obvious and the number one question I receive is: how can I tell if my advisor is good or bad advisor?  Of course that is why I wrote the book and so it’s not something I can answer in one or two sentences.


            What I’ll state is that if you are working with a financial planner who runs his/her business through a “broker dealer,” the chances that you are working with a bad advisor is high.


            What’s a broker dealer?  It’s a firm that some securities licensed advisors use to sell stocks, mutual funds, and bonds through.


            Other FAQs:


            -Why should you read the book? Because the chances are about 90% or more that you are currently working with one or more bad advisors (and in doing so you are putting your money/assets at risk).


            -Aren’t tax-deferred 401(k) and other retirement plans the “best” way to grow wealth for retirement? NO! If you are 55 or under, tax-deferred plans are more tax hostile then tax favorable.


            -If advisors have a certification, doesn’t that mean that they know what they are talking about?  NO! Some of the worst advisors out there use designations such as CFP®, CLU, ChFC, etc. as a selling point when, in fact, they are not good advisors.


            -Should you be using a “fee only” advisor?  NO! Fee only advisors are some of my least favorite advisors in the industry.


            -Don’t all CPAs give good tax planning advice?  NO! Most CPAs give average tax advice.  If you earn in excess of $250,000 a year or have a net worth in excess of $2.5 million, the chances that your CPA is giving you the “best” advice to mitigate taxes is not very high.


            -Isn’t a “properly manage mix of bonds, mutual funds, and stocks" the best way to assure you have enough money to last until you die? NO! The older you get, the less this type of wealth building model works. For most, allocating money to tools that can grow at a guaranteed rate of return of between 6-8% coupled with a guaranteed lifetime income stream will make a lot more sense.


            -Should you buy this book? You should if you are not afraid of learning what most already know might be the case. This book will allow you to tell for certain if you are working with good or bad advisors so you can make decisions about firing these advisors and finding ones that will look out for your best interests instead of theirs.


            Click here to purchase the book.


            I could literally put hundreds of FAQs on this page. While I do recommend you buy the book which should answer most of your questions, if you have a question right now you need the answer to, please free to e-mail me at


Roccy DeFrancesco, J.D.

Founder, The Wealth Preservation Institute

Co-Founder, The Asset Protection Society

3260 S. Lakeshore Dr.

St. Joseph, MI 49085


Author of The Doctor's Wealth Preservation Guide; The Home Equity Management Guidebook: How to Achieve Maximum Wealth with Maximum Security; The Home Equity Acceleration Plan; and Retiring Without Risk; Bad Advisors: How to Identify Them; How to Avoid Them.