On a recent episode of Business Innovators Radio with Mark Imperial, Michael Watkins, an Investment Adviser Representative and Retirement Income Planner, discussed fiduciary responsibilities and income planning for retirement.

According to Watkins, many folks are overwhelmed with information about the hundreds of Investment options available to them.  Education is needed as to the pros and cons of all the products, services and approaches that are out there, and a Fiduciary can give you the unbiased information.

When asked what a Fiduciary is, Watkins explained “(A Fiduciary) is an adviser that holds special licensing and registration, who is held to the highest standards of delivering unbiased, accurate information and advice that must be in the client’s best interest before the Adviser’s and his or her firm.”

Watkins continued “Let’s face it folks, we live in a world where we are bombarded over 600 times a day with advertisements form billboards, radio, TV, Internet, direct mail, you name it…. This really makes it hard for people to make an informed decision when facing 100’s of choices. Have you ever tried typing the word “Investments” into a google search…. you get 390 million results in a 1/2 of a second.”

When host Mark Imperial asked what is the most common pitfall or misconception clients face, Watkins answered, “I can tell you without hesitation…. not all financial advice is equal or is it in the best interest of clients and please let me explain. If you were to ask ten different Financial Advisers the same question chances are that you will get ten different answers and most likely those answers will be based on the companies, products, and services those advisers represent. In the financial world that is called being ‘Captive’ which means those advisers are only allowed to offer what their company has and nothing else. You see The Banks and Big Box Retail Brokerage Houses have propriety products to sell and quotas to meet. There is great internal pressure there to sell what their brand is selling.”

During the Interview Watkins shared how advisers and clients may have conflicting agendas, explaining, “This is why I feel so compelled to help people avoid unknowing mistakes or simply just purchasing products because someone says it is the best…..well that might be the best their company has to offer, but what the folks are not being told sometimes is that better products or services exist. That is why working with a fiduciary is so important for your financial success in retirement.”

Michael Watkins is an Investment Adviser Representative, Retirement Income Planner, and is the owner of Wealth Financial Group, Tampa Bay Office, and he is known for teaching income planning specifically for retirement.

The interview concluded with Watkins saying “If you have the income to experience life to its fullest, then isn’t that the type of retirement you want to have? You have come so far and worked so hard, why wing it. Our tag line is “The Richness of Life: It’s not just about your money it’s about your life”.

To listen to the full interview on Business Innovators Radio, visit: http://businessinnovatorsradio.com/michael-watkins-investment-advisor-representative-and-retirement-income-planner/

Listeners were invited to receive a free Personal Wealth Index report at by visiting: http://www.personalwealthindex.com/watkins