www.taxaces.com

www.taxaces.com

They put you on a list of High Net Worth Investors. The list is sold and the information added and updated. They want your retirement accounts. I no longer answer the phone and screen my calls. Don't give financial information to anyone over the phone, no birthdays, no address, no account info, no nothing.

The brokers come across as having the inside scoop but they want your money. They are not buy and hold. They will call every day with a new opportunity that requires more money. The most devastating are 2x and 3x leveraged ETFs. Don't go near these things unless you really know how they work, they are for day traders and you can lose a bundle. Let's say you hold them for two days, they go down 3% one day and go up 3% the next. You just lost a bunch of money. They are derivatives being sold as investments.

The answer as to why financial advisors do not "advertise" is simple. The type of advertising you are talking about is designed for the mass market. Getting the word out so people know who you are, etc. But advisors do not want the mass market. The average person is broke. Why try to get the word out to a bunch of people who have no money to invest? The truth is most advisors want a potential new client to have at least 250k to work with and probably closer to a million. And most big firms tell advisors that's who they need to look for....and oh by the way if you open an account with a "small" client we want pay you on the transactions. And then we'll move that client out of your book to be serviced by a call center. All these firms are the same, they want the high net worth investor ONLY, and the way to get them is NOT by adopting a mass market ad campaign. In fact that hurts, as the high net worth investor wants to believe he/she is getting a level of service that the masses cannot get. These firms are making a mistake of only wanting the high net worth client, because they believe that is the high profit margin/lower cost way to go....they want a few accounts paying them lots of fees. That is their current business model. And like most of what they have done, it won't work long term either.

Typo above....should read that the big firms WON'T pay the advisor for transactions done in a small client account. They define small as anything under six figures. And that number is rising too.

As for the "typical" victim of investment fraud...you say it is an "active investor whose portfolio is self-directed". Okay, well first of all if their portfolio is truly "self-directed" then they have only themselves to blame!

And the typical victim is "active" too....which means they make decisions based on greed and fear. Greed when the market is up and fear when it is down. Investors like these are their own worst enemies. Instead of sticking to a plan they feel the need to mess with their portfolio anytime the news leads with a story about the market - up or down. And yes there are plenty of them out there, so there are plenty of crooks waiting to take advantage of them with scams.

Who is the "average" investor?
A man, age 55 to 65, who has a college education, financial literate, who is an active investor and whose portfolio is self-directed....
there is your answer as to why they are the most "common" fraud victim.

Investors, Tenants, Potential Tenants, Contractors - BEWARE - this company and it's ownership should be avoided if you value your investments, good credit and personal or business security. Here are a few reasons, please feel free to do your own research - JUST BE SURE YOU DO - Lance Puig and York Street Properties, York Street Homes, York Street Investments and the numerous LLC's this organization operates under have caused 100's thousands of dollars of loss, 100's of wasted hours and countless heartaches for good people:

1) Debts and returns on investment are not honored in a timely fashion, if at all.
2) If you're tenant don't believe if you rent a home expecting to buy it that you ever will. It's a false promise - ask existing tenants.
3) If you're an investor; don't believe you are getting a safe, reliable, well maintained investment - ask past investors.
4) If you're a contractor; don't give this company or Lance Puig any credit - he does not pay.
5) Don't believe what you read on the website(s), in blogs or on radio shows. Icons are unauthorized, statements are false & exaggerated.
6) Don't believe mortgages (in your name) will be paid or debts for services will be paid - they won't be.

GO HERE FOR MORE: http://www.complaintsboard.com/complaints/lance-puig-york-street-properties-c244126.html