Anonymous

Pretty Good

Reviewed: 10-05-23

This was a good story. Not the best or worst, but, good in the family struggles throughout.

You voted on this review!

You reported this review!

Half Truths

Reviewed: 04-03-17

What would have made Unshakeable better?

FULL disclosure.

Tony bashes a multitude of professionals. Some of which I agree with. Some of which I don't. Any good advisor can show his/her worth by their advice without bashing others.

All it takes is FULL disclosure with a client UP FRONT. You tell the client exactly what ways they can work with you and how you get paid in each way. Then give them the pros and cons of each way of working with them. Let the CLIENT choose which way is best for them.

If they want FEE ONLY (usually the highest fee level and what Tony recommends), let them choose that.

If they want FEE BASED (usually a smaller fee, but also commission, "Dually Registered"), let them choose that.

If they want PRODUCT BASED (usually commission only advice, "Broker / Insurance Agent"), let them choose that.

Once the CLIENT chooses how they want to work with the advisor, the advisor works only in that space.

A "Dually Registered" advisor can operate in any of the 3 scenarios above. Let the client choose how they want to proceed.

Would you ever listen to anything by Tony Robbins again?

Probably not.

Who would you have cast as narrator instead of Tony Robbins and Jeremy Bobb ?

I liked Tony's enthusiasm, but that doesn't make up for the content.

Jeremy Bobb felt monotone to me. Did not inspire action.

What character would you cut from Unshakeable?

Creative Planning, America's Best 401(k).

The book would have had more merit if it were product neutral, planning firm neutral and not skewed to be an advertisement for TONY'S companies.

Any additional comments?

This book is basically a testimonial to Peter Mallouk and Creative Planning.

Testimonials are illegal for anyone governed by the Investment Advisers Act of 1940.

Costs are considered ONLY on the advisory space. If there is not one who has a "broker" license (Series 3, Series 6, Series 7, Series 52, Series 62), then you have to pay an additional person to enact trades. Who is that person / firm? How much do they paid for making the trades?

Why is it that in the book they say that you should NEVER pay more than 1% for an advisory fee, however, Creative Planning charges 1.2% for accounts at $100,000 - $500,000?

What about other assets? What about Real Estate? What about Annuities? What about Private Placements? What about Permanent Life Insurance? What happens when you start to withdraw for income in retirement? What about art collections?

There is more to the world than Index Funds.

This book is also an advertisement. Tony earns profits from Creative Planning by being on the board and "Chief of Investor Psychology". Tony earns profits from being on the board of America's Best 401(k)

A $14,000 Chevy Spark and a $50,000 Mercedes E-Class will get you from Point A to Point B. Does that mean that you should only buy a Chevy? It costs much less, which in turn you could have put into your indexed funds and gotten an additional 10 years of income, just by buying a cheaper car.

You voted on this review!

You reported this review!

70 people found this helpful