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    Getting Off the Street: Sane Investment Advice from One of the Nation's Leading Wealth Managers
    Getting Off the Street: Sane Investment Advice from One of the Nation's Leading Wealth Managers
    Getting Off the Street: Sane Investment Advice from One of the Nation's Leading Wealth Managers
    Ebook104 pages1 hour

    Getting Off the Street: Sane Investment Advice from One of the Nation's Leading Wealth Managers

    By Charles Massimo

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    About this ebook

    Charlie Massimo knows what Wall Street is hiding because he spent two decades on the front lines at major financial firms. Feeling disillusioned by his employers’ profit-driven motives, Massimo left Wall Street to start his own firm. Getting Off the Street offers honest, realistic investment advice based on Massimo’s experience helping hundreds of clients achieve their financial vision. His method, called structured investing, has helped clients weather devastating market crashes while investment giants suffered major losses, but you won’t hear about it from Wall Street advisors because they can’t profit from it. Told with Massimo’s signature warmth, clarity, and wisdom that can only come from three decades on and off “The Street,” this book will help you achieve your financial goals and build the life you desire.
    LanguageEnglish
    PublisherBookBaby
    Release dateOct 21, 2014
    ISBN9780990549031
    Getting Off the Street: Sane Investment Advice from One of the Nation's Leading Wealth Managers

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      Book preview

      Getting Off the Street - Charles Massimo

      Endorsements

      Investors today are presented with more opportunities than ever before but also more chances to make serious mistakes. An army of financial professionals claims to offer helpful advice, but their conflicting suggestions often lead to even greater confusion. Charlie Massimo shows us how to cut through the clutter and focus on the key ingredients of investment success.

      — WESTON WELLINGTON, VICE PRESIDENT OF DIMENSIONAL FUND ADVISORS

      This is an invaluable resource for navigating the convoluted and double-talk world of financial markets. Understanding the emotional aspect of investing, learning to ask the right questions, and managing my investment expectations all become easier when engaging with Massimo’s hallmark principles. This book is a MUST READ.

      — THE HONORABLE PAUL J. TONNA

      CEO OF PRAXIS PUBLIC RELATIONS

      FORMER SUFFOLK COUNTY LEGISLATOR

      I have been a client of Charlie’s for over eight years. Throughout our partnership I have been continually comforted by the knowledge that my family’s financial future is in the hands of someone who has such a wealth of knowledge of the markets and the discipline to stick to our plan. In a relationship like this, trust is paramount, and Charlie has my complete faith and confidence.

      — MICHAEL T. HARRIS, MD

      SENIOR VP & CHIEF MEDICAL OFFICER

      ENGLEWOOD HOSPITAL AND MEDICAL CENTER

      This book should be mandatory reading for anyone that is contemplating hiring an investment advisor. It crystallizes the type of advice you should be getting from the individual who will help invest hard-earned money and describes a process that is vital to attaining financial goals. As a client of CJM, I can attest to the fact that I have slept a lot better for the past ten years than did when I was managing my investments myself.

      — GERALD GOLDSTEIN, BUSINESS OWNER

      GETTING OFF

      THE

      STREET

      SANE INVESTMENT ADVICE FROM ONE OF THE NATION’S LEADING WEALTH MANAGERS

      CHARLES MASSIMO

      PRESIDENT AND FOUNDER, CJM WEALTH MANAGEMENT

      This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice. Laws and practices often vary from state to state and if legal or other expert assistance is required, the services of a professional should be sought.

      The author and publisher specifically disclaim any liability that is incurred from the use or application of the contents of this book.

      Copyrighted Material

      Getting Off the Street: Sane Investment Advice from One of the Nation’s Leading Wealth Managers

      Copyright © 2014 by Offstreet Press

      ALL RIGHTS RESERVED

      No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means—electronic, mechanical, photocopying, recording or otherwise—without prior written permission, except for the inclusion of brief quotations in a review.

      For information about this title or to order other books and/or electronic media, contact the publisher:

      Offstreet Press

      724 Long Island Avenue

      Deer Park, NY 11729

      http://cjmwealth.com

      (866) 923-0933

      978-0-9905490-0-0 hardcover

      978-0-9905490-1-7 paperback

      978-0-9905490-2-4 ebook (ePub)

      Editorial: Book Architecture

      Cover and Graphic Design: Logica Design

      Interior Design: 1106 Design

      Table of Contents

      INTRODUCTION: Getting Off the Street

      CHAPTER ONE: Patience

      CHAPTER TWO: Discipline

      CHAPTER THREE: Diversification

      CHAPTER FOUR: Goal-Setting

      CHAPTER FIVE: Choosing the Right Advisor for You

      Introduction:

      Getting Off the Street

      How many Wall Street horror stories have you heard? Perhaps you saw the recent movie The Wolf of Wall Street where investors were deprived of an entire lifetime of their earnings through one company’s underhanded dealings with penny stocks. Or you heard about brokers at UBS convincing their clients to take out margin loans to buy securities in Puerto Rico and receiving incentives not only on the securities they sold but also on the loans they contracted as well. ¹ How about the investment bankers at Morgan Stanley having improper influence over their analysts who rated the stock of Facebook so highly before its initial product offering (IPO)—a stock for which they happened to be the investment banker—only to later be hit with a $5 million fine by the state of Massachusetts after Facebook’s share price dropped precipitously, causing investors to lose millions. ²

      You can go to Google right now and enter the terms financial advisor and scandal and return over six million hits. There are so many shady tactics and burst bubbles, and so many big investment firms cooking the books. Small investors are taking the hit because the focus of too many financial service professionals is on their own greed and profitability. After the Great Recession of 2008 we have all become a little more wary of the spectacular failures of Wall Street. Still, many investors don’t know where else to turn, so they are lured back by the warm and fuzzy marketing of large investment houses that convey a false message: We’re part of your family and have your best interest at heart. Sappy, sweet advertising campaigns con investors, who are vulnerable to this style of marketing, and attempt to find new comfort in family-friendly portfolio management techniques. What other choice do they have? Some investors leave the market altogether. Others decide to transfer their portfolios to a new financial advisor, someone who will truly have their best interests at heart.

      Does such a person exist? Are there advisors out there who will act as your investment fiduciary,³ meaning they are not only ethically but also legally bound to tell you what is in your best interest? Yes, there are, and I am proud to count myself among that breed of advisor. You always want to work with someone who puts your needs ahead of their own. You want a doctor who is going to prescribe the best medication for your condition, not merely something that is suitable and rewards him in other ways through perks or sponsorship.

      It is the same in the financial industry. At my wealth management company, we just brought on a new client who had opened a 529 account to put away money for his child’s education. I won’t mention the brand name of the fund here but they were charging this individual a fee of two percent a year. The plan that I recommended only charged a fee of .17 percent a year—Figure 7 in Chapter Two shows what an enormous difference fees can make and how quickly they add up to very real money being lost. Both plans were suitable, but which one was in the client’s best interest? That is the one that the fiduciary must recommend. I could have offered the fund with the two percent per year

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