Family Finances: Good advice indispensable to managing your wealth

Half the battle of managing the family’s finances is saving. The other half is getting good professional advice about how to invest.

Lately, both of these tasks have been getting tougher thanks to higher loan rates, unreliable salespeople and outright fraud.

Our family finances are under attack on all fronts.

Some of the investment companies, brokerages and insurance companies we respected the most have been charged with a number of violations that hurt our pocketbooks.

Among them: Improper market timing; paying higher commissions to sales people for hyping their specific investments; and failure to disclose important information.

But leaving those companies may not be so safe either.

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