Re: thoughts on Merril Lynch notes/my meeting with financial advisor
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he brought up this thing called Merrill Lynch notes and basically told me that they are guaranteed to beat the index
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ask him exactly how it works and post back here. i can tell you that from the way you described it you shouldn't believe him and that would put into doubt whether you should do business with him in the future.
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QFT.
Tell your friend to press the guy on whether they are "basically" guaranteed vs actually guaranteed. Like we don't know the answer already.
Also, check on whether it is a load fund and what the expense ratio is. I would be surprised if a minimal investment of time didn't reveal this for the scam it is. And it's nothing against ML. All of the brokerages have a similar scam.
You would almost certainly be best off forgetting this guy and going to a fee based advisor to learn about a basic index fund strategy via ETFs or just go to Vanguard.
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