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June 24, 2023 - Stew Peters Show
41:43
LIVE @6:30PM: Scriptures And Wallstreet: 5 Secret Questions To Ask Your Financial Advisor
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Thank you.
Thank you.
Hey guys, Carlos Cortez here.
Hope you're doing well.
Wanted to bring up an old podcast discussion that I think is really relevant right now.
We have this conversation again.
Bear with me.
My allergies are getting better.
So I appreciate the emails and the calls of many people that were concerned and giving me tips.
Looks like I just needed some rest and lots of water.
And obviously some natural herbs were able to help me out a little bit now that I have my voice back.
But I am still a little voicey, scratchy, whatever you want to call it.
Raspy is the word I'm looking for.
But I wanted just to have this podcast talk about The five major questions you should be asking your current financial advisor right now.
You ready?
Get a pin and pad.
And after I discuss these five questions, go ahead and write them down and email them to your advisor or call them and ask them.
And I'm very curious.
I'm very curious on what your advisor says.
You can email me their response at info at CortezWM.com or simply just call us.
What I have to say today is not investment advice.
I am securities licensed.
I am a financial advisor.
And this is not investment advice.
Please seek financial advice from a licensed professional.
Not from a celebrity.
Not from a podcaster.
But from a licensed professional.
And I mean that wholeheartedly.
Because there's a lot of junk out there.
And there's a lot of fear mongering.
And we don't want to do that here.
We want to be a source of great information.
Of...
Level-minded information.
So, with my disclosure, this is not investment advice.
This is for educational purposes only.
Everything I see in this podcast and future podcasts.
So, going right to it.
Five questions you should be asking your current advisor.
Number one, what is my standard deviation?
If you call your advisor and ask them, what is my standard deviation?
They hesitate or stutter or just say, let me get back to you.
They should know that off the top of their head because when you have a managed portfolio, guys, you should always, always, your advisor always should know what that standard deviation means.
And just so you know, the standard deviation is a risk measurement of the reward you need to take.
I'm sorry, it's the risk measurement of the reward you should be experiencing to get a certain type of return.
So if you have a high standard deviation of 15, 15 is equivalent to the S&P 500, and you're 60 years old, let's just say 65, somewhere around there, and you have a standard deviation of 20, that means you're taking more risks.
Then the actual S&P 500 and you're not making enough so if you have a high standard deviation You should be making double-digit returns because you're not getting paid for the risk you're taking also in times of volatility You'll experience a lot of drawdowns a lot of losses and increases losses and increase in your target is a moving target.
How can you retire when your targets?
100% moving So, the major thing is you need to have a bucket of money set aside for no risk.
We'll get into that in one of our other questions.
Number two, which you would think is really common sense, is what are my fees?
All my clients, they sign off on fees.
So, we don't...
We don't overcharge fees.
All of our clients know.
They can call us and ask, what am I paying the fees?
We'll tell them.
We'll even send them the documents.
But if you have a traditional brokerage account, what are your current fees?
If you have an A-share, so...
Back in the day, either A.G. Edwards, Edward Jones, Ameriprise, Morgan Stanley, if you bought an A-share, and this is what, quote-unquote, celebrity Dave Ramsey, who's getting sued for $150 million, I told you to be careful with that guy, by the way.
He's good for debt, but he's not a securities licensed advisor.
Anyways...
Having an A-share, an A-share costs typically 5.75% to get into a mutual fund.
Then there's operating expenses.
Typically on an A-share, they can be anywhere from 35 basis points all the way upwards of over 1%.
So you pay the sales charge to get in.
There's no fee to get out, so you can liquidate no penalty.
A lot of people like that.
For longer term mutual funds, but mutual funds is a whole other segment.
And there's standard deviation.
There's really a high standard deviation because they typically just invest in stocks, a basket of stocks, according to the investment objective.
So be very careful on what your fees are.
A lot of times, clients have a lot of risk and a lot of fees.
And notice, that was the two first questions we had out of the five.
So the third question would be, what percentage of my portfolio is principle protected?
What percentage of my portfolio is principle protected?
What do we mean by that?
Well, if you have money in a stock market, or let's just say you had $300,000.
Ask your advisor how much of that is protected, is set aside for principal protection.
Maybe there's a guarantee.
Maybe there's insurance on it.
Maybe there's the ability to never lose any money.
Maybe it's not in the stock market.
What percentage of your portfolio is protected?
That's all you gotta ask.
And it really depends.
If you're with a public-traded company, if your advisor's with a public-traded company, they don't offer safe money solutions.
So the real question is, how safe is your retirement?
What I mean by safe, meaning you have a contract that says, my principal is guaranteed, protected, locked, and insured.
For those of you that technically want to know, It is not a security.
So what percentage of your money is allocated to a non-security, a principal-protected account that you'll never lose anything in?
Because the risk is off of you and it's back on the insurance company.
Well, I'll give you a hint.
Most brokers, who I used to be one, used to have the Series 7, was a stockbroker, worked for a big, big conglomerate, didn't realize what I was doing until I woke up one day and realized, wait a second, I'm feeding the public shareholders and not the clients.
I'm working for them, which in return, I'm working for supervisors and bosses not doing the right thing for the client.
So, it all goes back to what percentage do I have in a safe money bucket that is principle protected?
Go ahead and ask your advisor that.
And I'm very, very curious to see what kind of responses you're going to get.
Because everybody calls our office and they say, yeah, I have an LPL account or I have an Edward Jones account.
Oh, I have a Merri-Prize account.
I have a Merrill Lynch account.
And I just say, okay, so what are your fees?
How much risk are you taking?
And more importantly, how much money or what percentage of your portfolio is allocated to a safe money bucket?
And they look at me like a deer in headlights.
It is...
I just can't imagine.
Literally, so here's the bottom line.
Your advisor is handcuffed to whatever company they work for.
I'll say that again.
More than likely, your advisor, if you work with an advisor that is in a big box firm, your advisor can only do what the company tells them to do.
It is almost like the Jehovah Witnesses.
They are not allowed to read their Bible without permission from the Kingdom Hall.
That's why they have their own Bible, Kingdom Hall.
And so, some advisors, some corporate advisors, are not allowed to even give advice without running it through the compliance officer, which is mandated by, you guessed it, corporate America, their version of whatever they seem suitable for...
We don't like that.
We don't like that.
We want to give custom-tailored advice to every client.
Every client's different.
We want to do what's in the best interest of the client.
Also, we want to make sure that everything is suitable for the client and not just feeding public-traded shareholders.
It just doesn't make sense.
So back in the day, you used to see these proprietary products like the big banks.
They would say to their advisors, no one could offer these products except for you guys, speaking to corporate reps.
And the corporate reps would walk around, yeah, yeah, yeah, we got the best products because our company manufactured this product.
No one has access to it except for us.
And then when you buy You unwind the nuts and bolts of it and you actually look into the product, you have a high standard deviation, you have a crazy amount of fees, and there are public traded companies that it's benefiting.
This is how I created the five questions to ask your advisor.
Each and every question is designed in detail to expose what's really going on.
So number one, let me recap before we get ahead.
What is my standard deviation?
Number two, what are my fees?
Number three, what percentage of my portfolio is principle protected with no risk?
Number four, how did you do in 2008?
And what did you invest in in 2008?
Well, I think this will really, really ruffle some feathers.
Some advisors will say, well, I wasn't in the industry in 2008.
You serious?
So what, you only have like five, six years of experience?
You haven't even seen a full market cycle yet.
Why are you advising my portfolio, my retirement?
You might want to find someone else with a little more experience.
The other thing is, well, we just stayed in the stock market.
So you see a financial crash coming in 2008, and you stay in the stock market?
What if you're 65 years old and you stayed in the stock market?
It would have taken you five to seven years to make your money back.
Do you have that much time when you're 65?
Well, believe it or not, the safest place to have been in 2008 was the long-term bond market, the one that got crushed last year because the bond market was up 4% in 2008.
But all this question is going to do is really see how tactical your current portfolio is.
It's really going to expose, did you have safe money in your portfolio?
Did you have money allocated to a different bucket of money other than the stock market?
That's what this question is going to expose.
You didn't want to be 100% in the stock market.
You need the ability to go to cash when the market goes down.
So this is where tactical management became actually a leading cutting edge in the asset management space.
Tactical management has ability to move out of the market sophisticatedly using day traders and artificial intelligence And CPAs and a bunch of algorithms.
It has ability to move out of harm's way and get back in when the indicators and the financial stars realign.
So this is the type of technology that you would need in order to fight this extreme volatile environment that you're in.
Rising interest rates.
We have a fake submarine implosion.
I don't even know what's going on in there, guys.
I mean, honestly, it's a distraction.
So what you'll see is that Because of this distraction, there's going to be some laws, some banking laws, some other things, some real stuff hit the fan.
But everybody's paying attention to this submarine hoax.
I honestly don't even know if there's people in it.
I don't really have an opinion about it.
I just know it's some type of false flag.
It doesn't suit right.
It just has all the makings of a huge distraction.
So...
What did you do in 2008 is the fourth question.
And number five, believe it or not, what are your thoughts on the vaccine?
Go ahead and ask him that or her that.
What are your thoughts on the vaccine?
That's all you got to ask.
Then they will go in, well, we really feel that it was much needed for public health.
Or they'll even say, the company mandated it.
For real, they will say that.
Our company required us to do it.
And there you have it, guys.
They will choose their job.
They would choose their allegiance.
They would sell out their family because they took the vaccine.
They obviously did not care enough about themselves.
Or maybe they got Feardmonger into it.
And...
It's sad.
It really is sad.
They just didn't do their research.
And they just got fear-mongered into it.
And so, you're building a relationship with this current advisor, and we don't even know if he's going to be here or he or she's going to be here in five to ten years.
So you may have to find another advisor anyway.
Maybe they had a bad batch and maybe they don't have any adversarial effects.
I know there's three ways with this vaccine.
There's the immediate one that people die almost instantly and suddenly.
Then there's organ failures two or three years from now, which we're starting to see.
And then there's a long-term one where it slowly decays.
Your immune system, and we'll see a bunch of people pass away, in my opinion, you'll see a bunch of people pass away five, ten years from now.
So, I hope that's not the case, but I really wanted you to understand that, hey, if your advisor took the vaccine, where else does that show up in his or her life?
Did he or she get injured?
Like, they are managing the ship that's leading you to retirement.
And if you're not on the same page as your advisor, spiritually, mentally, now medically, politically, what are they doing managing your assets?
You have to be on the same page with your advisor Not just financially or economically, but now spiritually, now medically, and politically.
I've said it more and more.
We're a faith-based firm.
We don't work with woke people.
We don't work with Democrats that want to push the LGBT agenda, that want to take our guns away, that want to do all this nonsense.
As a matter of fact, we have the Second Amendment for a reason.
This is why America is so blessed.
Because we're the only country with the Second Amendment.
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And this is why America is strong.
Because we still have access to our guns, guys.
Doesn't matter what stupid face Biden says.
Doesn't matter what anyone else says.
We are locked and loaded.
And so you guys need to remember that we the people give the right for these politicians to vote for us.
We don't have to give them the power.
We have the power.
But number five question, guy, is...
What do you think about the vaccine?
And once you ask your advisor that, just be quiet.
You will have all the information you would know to make a decision.
So what it's like to ask these questions is...
You're going to get straightforward answers.
You're going to get answers.
You may not like those answers, but you'll get answers.
And once again, number one, the standard deviation question.
If your advisor hesitates or doesn't know what that is, I don't even know what it's worth.
Is he or she lying?
Or maybe they're afraid they don't even know what that means.
But give us a call.
We would love to hear your responses.
Or email us at info at CortezWM.com.
Let us know what your advisor is saying.
Because I truly believe if you can ask these five questions to your current advisor.
Maybe it's a 401k specialist.
Maybe it's your neighbor.
Maybe it's someone in church.
Maybe it's your brother-in-law.
Maybe it's a family member.
We get a call all the time.
Oh, my brother-in-law, my uncle, my dad's best friend manages our assets.
And he doesn't even know what's going on in the world.
He's vaccinated.
We had one person call in.
It was an Edward Jones rep.
They took the vaccine.
And the guy had...
I don't even know how to pronounce it.
But he couldn't even walk.
He got MS-like symptoms.
And he couldn't even physically walk to work.
And here you go.
They had millions of dollars.
And this gentleman was managing these assets.
That's you.
Give us a call.
We want to be a solution for you.
You can call us at our office.
If anything resonates with you today, give us a call at our office.
813-448-3446 813-448-3446 Or you can visit us at CortezWM.com So, once again, what is my standard deviation?
Number two, what are my fees?
Number three, what percentage of my portfolio is protected with no risk?
That's number three.
Number four, what did you do in 2008?
And number five is, what are your thoughts on a vaccine?
You are going to be floored on your responses.
So I just wanted to coach you through that.
You may not like the answers you hear, but you'll get the answers that you need to hear.
And to be very vulnerable with you guys, like...
It's going to cause some friction.
It's going to cause some friction.
Many of you would not like to have a conflicting or ruffle the feathers type of conversation.
But you need to have these straightforward conversations with your advisor as well as clients as well.
So I pray that these questions go smoothly.
But it is time.
It is time, guys.
2023 is going to be volatile.
Looking at the VIX, this is what really is scary to me right now.
I always look at the VIX. And the VIX right now, on the close of Friday, on June 24, the VIX is at $13.44.
KRE, which you guys remember me tracking this, it's been stagnant here for a while, but year to date, it is still down.
It's still at 39.58, which it is down literally from, it is down 50% from Christmas of 2022.
It was at $64.72.
Now it's down to $39.58.
Close to 50%, guys.
And this is their regional banking system.
The banks still aren't safe.
The regional banks, the bigger banks, you need to go credit union with some of your assets.
If you follow our covenant process, we believe in a little bit of precious metals, not all of it.
We have precious metals here.
We obviously love the fact that we can get our precious metals from Cornerstone.
Sorry, I'm getting my notes here.
We will also have the ability to have an insurance contract on your money.
And the other aspect is having a little bit in tactical management where we can get in and out of the stock market.
So you want to be able to have the ability to follow the covenant process.
And that is our commitment to you guys.
We know the storm is coming.
We don't need to fear it.
We don't need to worry about what is going to happen.
We know it's going to happen.
Just plan for it.
There's no reason to be scared or anything of that nature.
So...
But the number to call for Cornerstone if you want precious metals is 888-747-3309.
Again, it's 888-747-3309.
And let them know that I sent you.
Also, if you have current IRAs and 401ks, gold IRAs and 401ks, be very careful right now, guys, because all the companies are charging 20% A lot of them are charging 20% sales commissions charges to sell out of your gold and 401k IRAs.
If that's you, then give us a call.
We want to help you find a custodian that can do it for a lot less and get you out of that predatorial type of IRA. If you watch my podcast before this one, you know that IRAs can be detrimental to your retirement.
Due to the high risk of taxation, the unknown taxation that you have to do once you hit the age of 73.
And more importantly, if you take Social Security early and you pull money from your IRAs, all that will be penalized if you make over $21,000 in a year.
And you will be penalized 50% if you make over $21,000 a year while taking Social Security early.
So...
Quick fix.
Wait till your full retirement age.
Don't pull out any money of your IRAs.
Doesn't matter if it's gold, silver, IRAs.
It's still an IRA. Doesn't matter what the asset class is inside of an IRA. It's still an IRA. We can talk about all this stuff and develop a distribution plan for you.
Just give us a call.
813-448-3446.
We want to help you.
We want to serve God, the country, and our family, and all the patriots that call us.
We want to serve them.
We're arms wide open.
And I hope these five questions really, really benefited you from this podcast.
And having those questions will really, really expose your current situation for the good or for the best.
But you need to ask these questions.
I mean, you have to get really vulnerable with your advisor.
You really need to know.
There's no screw-ups in retirement.
You only get one shot at this, so you got to make sure it's right.
If you need more advice on, or I'm sorry, if you need more instructions on what to do, just shoot us an email, info at CortezWM.
You can go to our website at CortezWM.com.
And I keep forgetting to mention this, but go to AmericaFirstRetirementPlan.com, download our free guide, and it can tell you our process on our yellow, red, and green process, our ABC process.
And you can learn what is safe, what is not safe, and How our process is different, how we're different from the big banks, the Wall Street banks, and why I became a fiduciary.
All that is on American First Timer Plan.
We even show you how to get rid of your IRAs and allow for the financial institution to pay you I hope you guys enjoyed this simple content that this weekend you can look forward
to on Monday you can ask your advisor these five questions.
My verse for today, folks, is a really cool one.
I had the blessing of...
If you guys know, I love my dad.
I've been blessed to have an amazing father.
He's a pastor and a drill sergeant.
I grew up very, very tough.
But my dad just turned 70 on Flag Day, which was June 14th of this past month.
Father's Day, obviously Father's Day weekend.
So it's really cool that I was given the financial means to be able to fly out for a day and go buy my father a dream car.
His dream car was or is a Mini Cooper Countryman.
He just loves these little cars.
And he'll never buy one because A, it's not in his budget and B, he never buys anything for himself.
Never buys anything for himself.
Um...
God put it in my heart.
It's like I felt it in my heart, felt it in my bones to randomly call the Mini Cooper dealership in Raleigh.
And asked if there was a car available.
Inventory's been terrible, as you guys know.
And sure as heck, they had the color I had in mind for him.
So I called my mom.
And I said, hey, Ma, I'm flying in.
Can you guys pick me up from the airport?
From the airport, we're going to go.
And I'm going to give Pops his gift.
She already knew what it was.
Because I said that I was going to do something like this months ago.
So, crazy true story is when I was six years old, for those of you that are old enough to remember, when you have little children, they say these crazy things like, hey daddy, I'm going to buy you a car one day.
And I said that when I was six years old to my mom, to my mom and dad.
I said, I'm going to buy you, I'm going to buy Boppy a brand new car one day.
Um...
Well, that day was this past Tuesday.
So, I was able to fly to North Carolina and I bought my dad a Mini Cooper and I surprised him.
Go ahead and roll the tape.
All right, pops.
Come on out.
Shoot.
You want to get one like a blind man?
Yup.
Alright.
Here.
Grab my hand.
This is weird.
Let me go.
Yeah.
Just stay there.
Stay there.
Alright.
Take the blindfold off.
Holy...
What?
Look at me.
What?
Are you serious, man?
It's all yours, man.
Yo, man.
Are you serious?
Oh, man.
Yo, man.
I just don't believe this, man.
Tremendo regalo!
Open it up!
Yeah, give it a second.
I remember getting it first.
He's been excited.
It was pretty amazing to be able to do this for him.
My father deserves it.
And he teared up there.
And it was just an amazing experience to do that for him.
I hope your children can do something for you one day.
We always talk about leaving a legacy.
And I know that's what my dad's heart is.
But this is just me pouring back into him.
All the hard work he put into me.
The hard conversations, mental toughness, the spiritual fights, the financial inoculations, the junk that you have to go through being a pastor of a church where you give your heart to serving God's people but yet they leave and they talk crap about you and they throw you in the mud and And all this stuff that happens to a pastor that people don't even
realize.
More importantly, my father gave his time to these people.
He would almost...
Almost not spend time with his family to go minister to someone else's family.
This is why pastor kids always are screwed up.
Because what happens is their dad's time gets sucked in by the church and people that demand his time.
And they forget that, hey, there's a Little League Baseball.
There's a little soccer tournament that your son wishes you can see him play.
And it recreates resentment.
It creates...
It creates problems.
And it shows up later in life.
It even shows up in marriages.
I know because I was that little boy.
And it took me a lot of spiritual maturity to realize...
My dad isn't perfect.
But he was perfect for me.
And...
He's just doing what God has put in his heart to do.
So I wanted to bless my father, that's all.
Luke 6, 38.
Give and it will be given to you.
A good measure, pressed down, shaken together, and running over will be poured into your lap.
For with the measure you use, it will be measured to you.
God tells us right now just give openly.
Have a loose grip on this stuff.
Have a loose grip.
When you're tithing, have a loose grip.
When you're giving, have a loose grip.
It's going to come back to you.
It is a principle written by God in Malachi 3.
I will leave you with this.
You'll never see a poor giver.
I've never met one.
I've never met one.
So practice giving.
Do something special for your family.
Do something special to your parents.
And you know what?
More importantly, I'm just so grateful to have my parents alive.
Like honestly, I literally am just grateful to To have my parents alive.
I'm 40 years old.
My dad is 70.
My mom is 69, 68.
And even kids my age, they don't even have their parents alive.
Whether it's the vaccine, whether it's something else, it doesn't matter.
They're not here.
I'm just grateful to have my parents alive.
So, if you have parents alive or if you have loved ones that are still alive, call them.
Just say, I love you.
Just say, I'm checking in on you.
I care about you.
Send them an Uber Eats or send them food, flowers.
Do something warm.
And let us embrace each other.
Let us be that lover king that Christ has called us to be.
I hope this podcast was able to minister to you.
If you've never accepted Christ as your Lord and Savior, what are you waiting for?
Please do it.
This platform is dedicated to Him.
All you gotta do is just say, God, come into my heart.
Jesus, come into my heart.
Cleanse my soul.
I need you as my Savior.
I cannot live my life without you.
I am a sinner, and I need your blood to cleanse my sins.
And please, please, Put my name in the book of life.
That's all you have to say.
A heartfelt prayer.
And Jesus will change your life forever.
Well, that is my prayer for you.
I appreciate you guys.
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I appreciate it, guys.
And don't forget, if you're interested in an appointment, CortezWM.com.
You can also scan the QR code.
It goes right to my calendar.
And I appreciate you guys watching us.
And we will see you guys soon.
Bye bye.
Stop doing business with these woke companies that do not have your best interests at heart.
You have options.
You can literally fund and secure your retirement and still honor God, the country, and your family.
Give us a call for more information.
813-448-3446.
Secure your retirement.
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