What Suze Orman Really Thinks of Financial Advisors
January 8, 2019 by Jane Wollman Rusoff
If you could peek at Suze Orman’s personal portfolio, here’s some of what you’d see: Big positions embracing about a dozen cannabis companies. “I believe that in the future, this will be a tremendous investment,” the personal finance expert tells ThinkAdvisor in an interview, in which she reveals more about her investments and serves up a candid critique of financial advisors.
Seventeen years a stockbroker at Merrill Lynch, Prudential Bache and head of her own firm before morphing into a household name as a global personal finance expert, Orman, 67, is pumped up about digital advice but largely thumbs-down on financial advisors. Many fail to serve clients’ needs, especially those of women, she argues. Why? Because FAs have their own “horrific relationship[s] with money.”
Orman is famed for demystifying investing. Her focus is largely on paying down credit card debt and dollar-cost-averaging — “the secret sauce to making money,” as she calls it. She hosted “The Suze Orman Show” on CNBC for 13 years and is the author of nine consecutive New York Times bestsellers.
In the interview, the Chicago native talks about her experiences as a wirehouse advisor — including selling annuities — beginning in 1980, and later, heading her own Suze Orman Financial Group. Also: Why she left Merrill Lynch for Prudential Bache and why she sued Merrill — not in that order and not for the same reason.
Click HERE to read the full story via ThinkAdvisor.
