Quote:
Originally Posted by Bigtime
Is there any responsibility that these media outlets have to ensure that products of a financial nature being advertised on their station are actually legitimate?
Or is it pretty much, you can pay for the ad/airtime it's all yours?
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I do not think there is any restrictions as long as they have their little Caveat emptor statement at the beginning and end. However it does make their On Air talent look pathetic taking part in it, and putting on the charade they are genuinely interested with all of their "Ooooh's and Ahhhh's".
I have personally found the best of the best of money managers out there are the ones that don't advertise. The one that essentially set my folks up for life was hesitant even taking me on 15 years ago, and only did it as a favour to my mom, because I didn't have enough at that time to put in to make it worth her while.
The best advertisement an investment advisor has, is their reputation. Once they start running "Lets play pretend radio call in show." Something in my eyes is flawed, where they have to go out and try and buy leads in that manner. If your product was so bullet proof, AWESOME, and made so much money, you wouldn't need to spend a nickel to find an investor, let alone buy entire 30 minute blocks of time on the radio. You would just have to put it out to a few brokers, and the rest would take care of itself.