‘I Finally Had It.’ I’m 80 and My Financial Adviser Had Me in REITs. I Took a $97K Haircut on One of Them. After That I Switched Advisers, but I’m Stuck With the REITs. Now What?

An 80-year-old investor suffered heavy losses after their financial advisor recommended illiquid, high-commission real estate investment trusts (REITs) that were unsuitable for their age and risk profile. Experts recommend working with a CFP® professional, who adheres to a fiduciary standard and whose credential can be verified through CFP Board’s website.

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