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Rating:Spitzer Clone Pens Book Bashing the Fund Industry Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 02, 2007

Spitzer Clone Pens Book Bashing the Fund Industry

News summary by MFWire's editors

It looks like Eliot Spitzer has a friend in Ric Edelman. In his creatively titled new book, "The Lies About Money," Edelman tells retail investors that they can easily build their own portfolios to avoid the "deceptive" practices of the mutual fund industry. To find out just what Edelman thinks is so "deceptive," you'll have to pay $28.

Consumers can help themselves achieve investment success by avoiding the improper business practices that run rampant throughout the retail mutual fund industry, says No. 1 New York Times best-selling author and nationally acclaimed financial advisor Ric Edelman in his new book.

THE LIES ABOUT MONEY -- Achieving Financial Security and True Wealth by Avoiding the Lies Others Tell Us -- And the Lies We Tell Ourselves (Free Press, $28) goes on sale nationwide today. It is Edelman's first book in five years.

In The Lies About Money, Edelman shows consumers how to build their own customized investment portfolio, teaches how to handle the money in their employer retirement plan, reveals the best way to save for college, and demonstrates how retirees can boost current income safely.

Edelman, recently rated by Barron's as the No. 2 independent financial advisor in the nation, shows investors how the lies that they are being told about investing are jeopardizing their financial success.

"Most consumers are unaware that the retail mutual fund industry's abusive business practices are threatening their ability to achieve investment success," said Edelman. "As a result of deceptive sales practices, manipulative money managers, and downright illegal behavior, consumers are earning lower returns, incurring greater risks, and paying higher fees than they realize."

Edelman spent four years researching the retail mutual fund industry scandal. In The Lies About Money he identifies 25 scandalous business methods that remain standard practice in the industry today.

With the book as a guide, the reader can avoid all of the industry's deceptive procedures, and actually build his own personalized portfolio. Using the book's interactive Guide to Portfolio Selection(R), the reader can easily identify which of the book's 43 model portfolios is the one best suited for him or her.

Edelman's previous books include the personal finance classic, The Truth About Money. He has been providing financial advice to consumers for more than 20 years, and his firm now manages $3.5 billion for more than 8,000 families across the country. Edelman also hosts The Ric Edelman Show, syndicated nationally on the ABC Radio Networks, and writes a syndicated newspaper financial advice column. His new 90-minute television special, also titled The Lies About Money, will be broadcast later this year on PBS television stations around the country.  

Edited by: Erin Kello

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