Pershing discussed on Dave Ramsey


Month with the investment listed okay but Pershing is not the end that that must be the broker that the adviser was with but not the actual mutual funds right right cursing is the broker I believe do you have the actual mutual funds the statements from the actual mutual funds or do you know what funds are actually and what your account number is with the mutual fund not with the mutual funds no just with her she I know what I'm saying you don't know the name of the mutual fund that Pershing has put you in I'm sure it's on the statement correct should be arm so well one thing you can do is immediately call the SEC the securities and exchange commission has probably after this guy and you know telling me freaking out and what can I tell you okay about the investigation and what you should do is our next step that's that's one thing you would do second thing I would do is I would pick up my statements and say alright I'm supposed to have money in A. B. C. mutual fund in my account number is so and so call that mutual fund and go okay this is Kathy zone so my and I'm supposed to have X. number of dollars in this mutual fund and I need to verify that there's actually money in that fund in my name okay okay okay and is part I'm not familiar with the name Pershing so is that a larger firm or that he's supposed to be a part of a local branch of or is that the name of his firm he's actually a local branch of United planners I called I looked up on I would turn up on the internet and there in Arizona I call them to okay and start you know it's tough to tell them what's going on that you need to know how to take your statements apart and here's my hope okay that's your money actually got into those mutual funds if it actually got into those mutual fund you're probably safe okay but if he's able to if he's diverting it with as a complete crook a complete fraud up a bank robber basically fees diverting the embezzling the money and then printing off falsified statements then you may have a real problem that's possible okay so on the SEC the securities and exchange commission is ruling body on this get in touch with them immediately in your area they'll have all a location or a an agent assigned to the Boston area that you can get some help from and and then call United planners whoever that is that they're a part of that he somehow part of get some information from them number two number three try to reach the actual mutual fund company and so mutual funds are they're called families of funds which is the brand name okay and as a an example would be fidelity is a brand name and Campbell's is a brand name can I Campbell says chicken soup and they have vegetable soup fidelity has you know a whole bunch of different mutual funds so fidelity is not what you're looking for you looking for the actual fund fidelity Magellan would be an actual fun right if it's American funds an actual fund is an investment company of America dot CA American funds and so it's not just American funds you need to get a hold of its I see a with your account number to try to figure out if you've got money in that account literally and if you do find your that's going to give you a lot of rest and you're going to get some sleep in addition to that the vice president of our smart buster program that this guy's not a smart investor I'm sure okay the events because I I tried to find one when we were I was getting ready to roll over this I know this for a one K. and there wasn't one in our area okay well the guy that is the vice president of our that runs that whole program for us inside of our company here is brilliant on this kind of a thing and so even though we've got nothing to do with it just to help you I'm gonna put you on hold and Kelly is going to connect you to one of our vice presidents and he'll be able to give you some also some better advice maybe even that I have on getting in here and getting you some peace that your money has not just been flushed down the toilet somewhere so what should Kerry horrible thing yeah you roll million dollars into something you look up there the guy you're working with us on the front pages being the next Bernie made off oh my gosh what a horrible deal take your breath away right there a call your pulse rate to change out so hold owning Kallio pickup Kathy and we'll try to help you and get you some help around this even though as you and I said it's not not one of our guys by any stretch of imagination but but but I hate it when one of these guys does this because it it discredits and makes everybody scared about doing investing then this then they shouldn't be because ninety nine point nine percent of people in the business are wonderful people ban is with us in Gainesville Florida hi Ben how are you Hey Dave I'm doing good how are you better than I deserve what's up that's good so I I recently got engaged to my girlfriend and we've been going over you know the important questions like finance and she told me she has twenty four thousand dollars in student loans or financial happened on school and I don't know where to go from there go where we me in terms of you know how we shouldn't worry about that should be not even look at the student loans until after you graduate she has some private and some and some federal loans are you both in school what about the school we both had two years to graduate okay what is she studying she was studying nursing you're studying what engineering engineering good and you don't have student lounge why because I had my first two years at a public college not a university in France yeah but you pay and how do you pay for it I work is that okay so how much does she work she works about ten hours a week she makes about four thousand a year not enough of course yeah okay and so the first thing I would attempt to do is do y'all have a date set yet that you're going to be married and again cool okay well until the end of June there's not a thing you can do actually mathematically to combine this at this stage of the game but between now and then I want you guys working on a plan where beginning at that date your first goal is for you both to graduate with no more death how grand if you can pull that off between the two of you meanwhile everybody working all hands on deck everybody's doing everything they can work all combined finances were married after June and we're gonna both get through the remaining of our school without anymore that that's so that's a win if you can just freeze the twenty four and deal with that after graduation and pay cash for this point forward that's a big win her win would be if you could even do that and reduce and reduce our debt but by far the first Gulf is have enough in the bank for both of you to graduate debt free th then go back and do that so hold on I'm gonna send you an early wedding.

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