• Wealth Mismanagement

  • A Wall Street Insider on the Dirty Secrets of Financial Advisers and How to Protect Your Portfolio
  • By: Ed Butowsky, Dennis Kneale
  • Narrated by: Traber Burns
  • Length: 5 hrs and 53 mins
  • 4.4 out of 5 stars (290 ratings)

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Wealth Mismanagement

By: Ed Butowsky,Dennis Kneale
Narrated by: Traber Burns
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Publisher's Summary

Are your life’s savings safe? A Wall Street insider reveals fatal flaws and hidden risks of wealth management and unveils a new system for protecting your portfolio - and firing your financial adviser.

Millions of us are committing a slow, imperceptible form of financial suicide. 

Chances are your IRA or 401(k) carries far more risk than you realize, lacks real diversification that could reduce downside risk, and is falling behind the underreported rate of inflation that eats away at your retirement fund every year. 

In the next market crash, you could be left vulnerable and unprotected.

Wall Street financial advisers are supposed to build and preserve your wealth, yet they are untrained in portfolio construction and how to contain risk and bulletproof your investments. They charge high fees and sometimes put their own interests ahead of yours.

Now Ed Butowsky, a Wall Street insider who spent two decades as one of the top producers at the fabled firm of Morgan Stanley & Co., breaks from the pack to reveal the flaws, fibs, and failings of financial advisers. To fix this mess, he has created the new CHIP Score to empower you to evaluate the potential for Risk & Reward in your portfolio and grade your adviser - before the next meltdown. 

Nobody else on Wall Street ever dared to create anything like it. Wealth Mismanagement will empower investors to protect themselves.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2019 Ed Butowsky and Dennis Kneale (P)2019 Blackstone Audio, Inc.

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What listeners say about Wealth Mismanagement

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A Book of Complaints

Despite some good points, this book is mainly the author complaining about the industry that made him lots of money. There are good moments of education, but the premise of the book is to use his invented score to judge financial advisors. The issue is that he doesn’t introduce it until the very end of the book.

3 people found this helpful

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Best financial book I ever read

Perfect story. The Author described the backstage of Wall Street and showed how stupid is the system is. Do not slow them to fool yourself - read that book. Thank you!

1 person found this helpful

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Sales pitch for his firm

Criticizes the financial advising industry for failing their customers. No need to worry though, he and his firm are different and can save you from the "clueless" others! You'll just have to wait for the last chapter to hear about it and be directed to their website.

1 person found this helpful

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Great book!

One of the most remarkable answer I got out from this book is to my ever-present question: why the CPI consumer price index doesn’t seem to reflect the reality. Because the number is tinkered and not real. We are “cheated”and everyone is on it, which makes it more important to do extra for a good retirement.
Repetitiveness I don’t feel, maybe I like important points to be reviewed so I can remember better especially in audio form. There are some concepts that I still don’t understand such as the standard deviation factor, but I am willing to figure them out by a second listen and more research.
Not recommended for beginners.

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Repetitive but good

Overall, it is a good book that covers some topics that are seldom talked about. The explanations of risk tolerance and general portfolio advice is sound, and the history of the cpi is fantastic. However, Butowsky worked in wall street for a reason, he is a good sales man. About 30-40% of this book is just him repeating that wall street doesn't know X but I know it and here is what I came up with. It's good material just too heavy on what feels like a repetitive sales pitch.

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Must read before invest!

Simple truth that confirms ab 95% what I experienced. Simple and obvious knowledge u should know loooonnngggg time ago.

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This Book has Great Financial Principles!

The author teaches you the what not to do as well as the valuable lessons of how to invest.

1 person found this helpful

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most amazing book about investment

most amazing book about investment for both pros
and new investors
A + ×$$$$ $$

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Listening will save your pockets

No matter your skill level, you’re sure to learn key information that will change your game for the better.

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Informative and easy to understand

I really liked this book, it was super informative, he uses real life stories and throws in some dry humor that Traber performs beautifully!

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  • MrC
  • 10-07-22

Worth the listen!

Loved this book! A definite eye opener!! Can’t wait to get started with the new tools and knowledge!