Secrets of the Skim: A Merrill Lynch financial advisor's tale of the raw greed and cultural rot harbored in the belly of Wall Street's most - Paperback

by Hal Blackwell (Author)

Ever wonder exactly how much you pay your financial advisor? Do you even know how you pay your financial advisor? "Secrets of the Skim" is the story of a financial advisor who comes to understand the real agenda of Wall Street's Main Street representatives and the methods they use to inconspicuously "skim" money from client accounts. In an odd twist of fate, a legendary college football coach, an $800 million renewal fuels project, a mass defection of financial advisors to the competition and the greatest financial crisis since the Great Depression coalesce to expose the cultural rot within the wealth management industry. For the first time the misdeeds and methods of concealment used by this industry are uncovered in this deep journey into the corrupt culture of Wall Street.

Author Biography

Hal Blackwell earned a Bachelor of Science in Finance from University of South Carolina and enjoyed an extensive career in business, owning and managing two businesses, prior to being hired by Merrill Lynch as a financial advisor in 2005. In the ensuing four years, many high-profile, retired corporate executives and sports figures trusted Hal with their personal fortunes. In August 2008, he accurately predicted the coming financial crisis and took bold action on behalf of his clients. In a bold move of conscience he counseled his clients to move into cash and other liquid investments in late September 2008 just before the market plunge in October. To his shock and amazement this action put him at odds with Merrill Lynch management. Instead of acknowledging his courage, Merrill Lynch management admonished Hal for forfeiting the firm's revenue. A guest lecturer at Clemson University's Graduate School of Entrepreneurship, Hal teaches seminars on win/win negotiation, sale of corporations, and corporate decision making. President of HE Blackwell Advisor, LLC, he consults on subjects like corporate debt structure, acquisition funding, distressed debt valuation, and capital utilization. He often is asked to lend his expertise interpreting market and economic fundamentals within the U.S. and global economy.