Hello, I am Paul.
I am the chief executive officer of The Truesdell Companies, a conglomerate of professional service firms. For a listing of our firms, click here or on companies in the header, or type Truesdell.net into your browser.
If you would like to chat,
click on the black button below.
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and scroll for the OAV process.
Fixed Cost Financial, Inc.
FCF is a registered investment advisor. I have been a professional money manager since 1986. What we do is better, simple, and works. To explain the difference, take the time to view the bite-size videos in the player below. I will explain the who, what, where, when, why, and how we do what we do in plain language. Also, it is essential to understand that we are not financial planners. Financial planning is a tool, not a service. The financial planning industry is filled with insurance agents and brokers looking to sell high-commission insurance products. While there is a need for some types of insurance, you will never become wealthy by being insurance rich and investment poor.
Investing Done Better
Audio & Video
I began using audio and video in 1968. Regardless of the engagement, my experience is that our clients are better served, informed, and make sound decisions when complex material is presented by video, methodically and calmly.
Do Fees Matter?
Absolutely
The difference between a fair fixed cost versus a commission-based approach is tremendous. Take a few minutes to compare yourself with the Dinkytown fee comparison program.
Whether you are already working with a financial professional or are trying to figure out whether you should hire a financial advisor, these are key questions to ask:
How are you getting paid?
Buy more and pay more,
Sell more and pay more,
Profit more and pay more, and/or
Have more assets under management (AUM) and pay more…
These are forms of commissions.
Commissions are discriminatory.
FCF management is fixed and fair.
Do you earn commissions?
Insurance products generally have very high commissions.
Most “investment advisors” are conflicted with dual registration.
Dual registration means they work for a broker/dealer and an investment advisor.
Dual registration conflicts of interest are widespread.
FCF is NOT commission-based.
How much money are you and/or the company making to put me in this investment?
Is there a bonus involved?
There are no bonuses paid to FCF.
Are the trips and other rewards for selling involved?
FCF does not receive or accept sales contest trips.
What are my total costs for working with you?
Total means total.
Many costs are obfuscated and non-transparent.
FCF fees are fixed and transparent.
How much does a financial advisor cost?
1.5% paid to an advisor on $500,000 equals $7,500.
1/6th the cost of the average new car in 2022.
1.5% paid to an advisor annually on $1,500,000 equals $22,500.
Equal to 11.4 years of current amenity fees for The Villages.
9% Variable Annuity commission on a $500,000 purchase equals $45,000
Equal to 40% of the purchase price for a new S-Class Mercedes.
How are financial advisor fees charged?
What are commission-based financial advisors?
What are fee-based financial advisors?
Is paying for a financial advisor worth it?
For a real alternative to the same old song and dance, click on the picture below. See why we say: “Investing done better.”
The fifteen highest paid CEOs in the financial services industry, per the Wall Street Journal:
James Dimon, JPMorgan Chase - Total pay: $84.4 million
David M. Solomon, Goldman Sachs - Total pay: $39.6 million
James P. Gorman, Morgan Stanley - Total pay: $34.9 million
Laurence D. Fink, BlackRock - Total pay: $32.6 million
Stephen J. Squeri, American Express - Total pay: $25.5 million
Brian T. Moynihan, Bank of America - Total pay: $23.7 million
Terrence A. Duffy, CME Group - Total pay: $22.9 million
Walter W. Bettinger II, Charles Schwab - Total pay: $21.9 million
Charles W. Scharf, Wells Fargo - Total pay: $21.4 million
James M. Cracchiolo, Ameriprise Financial - Total pay: $21.2 million
Richard D. Fairbank, Capital One - Total pay: $20.5 million
Adena T. Friedman, Nasdaq - Total pay: $20 million
Andrew Cecere, U.S. Bancorp - Total pay: $19.2 million
William S. Demchak, PNC Financial - Total pay: $17.5 million
William J. Stromberg, T. Rowe Price - Total pay: $17.1 million
Approximately $422 million dollars (nearly half a billion) means they fees being charged to rank-and-file American investors, might be a bit higher than necessary.
The Villages has a residential population of approximately 82,000. If “only” residents of The Villages paid for those listed above, it would equal $5,100 per year, per resident. Here’s another way of looking at costs. If a retiree has $343,000 under management with any one of the many “in your face,” local money managers, at 1.5% per year for the annual assets under management fee, the cost would be $5,100.
Think About It
Take your time, we not going anywhere.
Practice Established - October 1, 1986
Warren Buffett Quotes
When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients.
Someone’s sitting in the shade today because someone planted a tree a long time ago.
If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.
Price is what you pay, value is what you get.
It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.
The most important quality for an investor is temperament, not intellect.
Risk comes from not knowing what you are doing.
Never invest in a business you cannot understand.
The most important investment you can make is in yourself.
Never depend on a single income. Make an investment to create a second source.
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.
Don’t pass up something that’s attractive today because you think you will find something better tomorrow.
The best chance to deploy capital is when things are going down.
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.