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Who Can You Trust? | CoreStates Capital Advisors

Who Can you Trust?

An Attorney’s Advice… At NO Charge

Read this and make a copy for your files in case you need to refer to it someday. Maybe we should all take some of his advice! A corporate Attorney sent the following out to the employees in his company.

1. Do not sign the back of your credit cards. Instead, put “PHOTO ID REQUIRED…”2. When you are writing checks to pay on your credit card Accounts, DO NOT put the complete account number on the “For” line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your check as it passes through all the check processing channels won’t have access to it.3. Put your work phone # on your checks instead of your home Phone. If you have a PO Box use that instead of your home

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Who Can you Trust?

Once again, greed has rocked the foundation of our financial system. It has led to dishonesty, outright theft, and pervasive emotional detachment, and has caused each of us to question every financial relationship we have.

Our trust in our financial institutions is gone.We have been deceived by Freddie Mac, Fannie Mae, Congress, the SEC, AIG, Citigroup, and most recently Bernard Madoff. Each of these, in its own way, has shown that the further away from the investor an institution is, the greater the emotional detachment,and the easier it is for the institution to betray its clients’ trust.

In this environment, “transparency” becomes critically important. The literal derivation of “transparent” is “able to see through.” In financial relationships, it means the ability of the client to actually see the activities their financial services provider is undertaking on their behalf.

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