For those pros who have not had the time and/or understanding to review their finances during their career.
Investment agreements provide numerous disclosures and fee structures that are confusing. Private investment documents may fail to provide enough disclosures to understand the risks.
Many financial advisors are
incentivized to sell products in their best interests - not yours.
You have a right to clearly understand what you are being charged and why.
Fraud and other sales abuses can occur in investments. Ensure that your investments are made according to your tolerance for risk instead of an advisor's want for profit.
Who is managing your cash and bill pay? Would you know if he was stealing $1,000 per month? How?
Do you review for Venmo or ATM withdrawals? Cashier's checks? Debit cards? ACHs?
You and BrightLights will determine a period of time to review your investment and bank account statements, new account forms, investment documents, private investment documentation, and other pertinent documentation.
BrightLights will review your investment account documentation for evidence of fraudulent or abusive sales activity, such as churning, unauthorized trading or withdrawals, unsuitable investments, switching, failures to disclose material facts, and many other issues.
BrightLights will analyze the inflows and outflows of your money in your bank account statements to determine whether and fraudulent or suspicious activity appears to be occurring.
BrightLights will issue a report detailing its review of both investment and bank account documentation. Our analysis of your investments will detail the risks and fees of your investments so you can properly make a decision whether your financial advisor and/or investments are the right fit for you. Our analysis of your banking accounts will detail all incoming and outgoing flow of money and the recipients while addressing any potentially suspicious activity.
In the event fraudulent or abusive activity is occurring, BrightLights will work with you and a qualified professional to determine whether the loss is worth attempting to recover. This could involve directly contacting the financial institution to demand your money back or hiring an attorney to litigate to recover your money.
2x NBA Champ and 11x NBA All-Star, Chris Bosh:
"I have millions of dollars and I don't know finance. I've had some bad things happen in my career. I've got to educate myself. I sit down with my finance guy once a month and go over everything, line by line. I was 22 years old when I started. I didn't know anything. People put stuff in front of me and I signed it, and then it came back and crucified me 10 years later. Now I spend hours looking through everything with a fine-tooth comb."
- As told to ESPN