Financial Plans: Selling For In-House Gains?

Focuses on the financial plans being sold by many financial service companies and warns investors interested in these plans. Example of John Haritos Jr., whose financial plan with American Express Financial Advisors did not perform well; Number of households in the United States that signed up for financial plans from mid-2000 to mid-2002, according to SRI Consulting Business Intelligence, indicating an increase from a 1998 survey; View of author that investors, who feel they are getting independent advice tailored to their own needs, are the victims of a sales tool that often make money for the advisors; Discussion of the disclosure of information by investment advisors; Percentage of advisor sales that go to proprietary products at American Express. INSET: The AmEx Advantage.