8. Accountants: It's in their best interest to make sure you get as much back from the gov as possible, but they can over charge when a lot of times you can do it by yourself.
7. Financial Advisors/Planners: These mercenaries are obliged by regulation to ensure they are held to a fiduciary obligation, but as with all professions there are bad apples that hide behind their credentials.
6. Bankers: For better or worse they can only offer their bank's products, but they all have different payouts so watchout.
5. Attorneys: Competent attorneys are crucial and can be a great help in protecting you & your assets, however use caution because more litigation = more fees and remember to shop around for a good one.
4. Stock Brokers: These mercenaries have taken a beating since the late '90s when they were at their peak. Most are glorified salesmen that follow orders from the top when it comes to investments and aren't afraid to charge a hefty commission, but the good ones can have the potential to make you a lot of money.
3. Realtors/Real Estate Agents: These folks are primed to take a beating that will be similar to the one stock brokers took after the tech boom. Currently realtors are playing to investor's greed and pushing a losing investment (in the short term). When the market normilizes after the boom & bust period they can help bring value to an important avenue of investing. I will pay good money to see one say at this point that a client should wait to buy as prices come down.
2. Insurance Salesmen: These folks can offer a necessary product to prevent some risks associated with life. Their track record as shifty mercenaries has been seen well documented in their long history. And they have never been afraid to sell overpriced unnecessary insurance to those of niave nature.
1. Mortgage Brokers/Loan Officers: These newly esstablished #1 dangerous mercenaries can screw you in many different ways without your knowledge. Home loans are highly regulated, but to those that do not have a financial or loan background can lose their shirts in hidden cost and exotic loans. Exotic loans to non sophisticated buyers who are unaware of their consequences will cause much hardship in the coming years. These guys are in the zero sum game of loans and all they care about is closing a deal. I have worked with them in the past and they can be very dangerous.
This is the current form of the list and will be updated w/ new revelations & comments as they come. Again all 8 mercenaries can be great assets to have, but be cautious when dealing with them.
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