Ric Edelman Reviews

George   MA

I put $6K into Ric Trust for my son in Jan of 1999 as of today Jan of 2012 it has gained $800.00. I could have gotten more in a savings account!

David M.   MD

Been with Edelman since April 2007. The staff is super, but the returns are poor -6.38% to date. This includes the 2.0% fee the firm charges. Edelman argues that they do better than most indexes (e.g. we lose less of your money than the competition) By the way, the brokerage firm that Edelman uses, T.D. Ameritrade, charges you fees. Just transfer money and you will get a $50 fee. I think Rik Edelman makes most of his money selling book and being on the radio.

janet lake   hollywood calif

ric edleman has alot bad reviews on finra.org and I find that his morris harris group are sharks...not someone that is a good find

Jeff   Northern Virginia

I have read all his books, starting with the original Truth About Money, and have generally followed his advice. His approach to money management mirrors what I learned in business school, and I have been very happy with the results (I'm retired now). What he says basically is that you need to know what your financial goals are, then design your savings/investment plan to achieve the goal or goals. If you have no goals, then you might as well spend everything as you earn it, although at minimum everyone should have the goal to save for emergencies or job loss, don't you think?

When the Lies About Money came out, I saw him address a small crowd at a book signing, and he told the crowd that nothing that he and his firm does is anything that could not be done on your own - it's just that people don't do it or they put it off. He said it's not "rocket surgery" and just takes some self-education.

I saw him recently at a small private gathering where the topic was limited to investing and planning for retirement, and during the Q & A he said a version of the same thing - that his firm is like a lawn service. You can mow your own lawn (and fertilize, and seed, and trim, etc., etc.) but what you pay for is making sure that everything gets done on time, at the right time, and with the right investment mix to achieve the planned for goal.

His website suggests an appropriate mix of investments, given goals and individual risk tolerance. This is totally free (they ask your name and email, then send you ONE follow-up email - nothing heavy-handed). I did this to get the right mix for me, then used a combination of investments to create that mix on my own. The key to everything is to re-balance when the mix is out of whack, and to periodically revisit your goals, to make sure the mix is the right one. Even his books I read from the library for free. I have paid him nothing (other than compliments) and have benefited from his planning advice, and have made money even through the recession. His approach, which is the same one I learned in school, always works, unless the earth is invaded by aliens or something.

Chris   CA

I went to FINRA and did the search like Bob L. recommended. There are two complaints that were resolved and nothing pending. Big deal! But, I do notice Bob L. is advertising other services.

Joan   Baltimore

I attended the seminar last night in Towson, MD. As for the initial presentation,I felt the seminar had a touch of a glitzy Hollywood feel to the opening. As one entered there were well dressed men in dapper suits who seemed too eager to pounce on the attendees as potential clients.

Having Jean Edelman make the opening remarks makes one suspect as to be catchy and cute and reeking of wedded bliss. The announcer reminded me of a circus barker calling for everyone to come into the tent and witness a true showman, Ric Edelman. Ric's entrance down the center aisle smacked that is was all about him.

As for content, it was information I had heard before and nothing really new. Some scar tactics were cleverly thrown in to want one to sign up to be a client. Ric looked at his watch periodically and some of the topics he said he was going to touch on never materialized. It ended promptly at nine with a Q&A. To me Ric seemed anxious to get out of the room.

I had met with a rep in Bethesda about 3 years ago. Talk about fees! If the adviser had taken over my portfolio it would have worked out to be around $6,000 annually. From what Ric said about how well they manage and monitor your portfolio there has to be a cost to the adviser. $6,000 is too steep for me. Once educated and taking the time to do this myself, I would much rather pocket that $6,000!!!!

Too much showmanship, old news,statistics and fear tactics. So be it!!!

Bob L.   NY

Check out Ric's FINRA penalties & fines at broker check finra.org. His broker dealer name is Morris Harris Group. It's scary he's allowed to advise!

James S.   DC

After seeing the Ric Edelman show, I can say that he gives acceptable BROAD advice.