The title is pretty self-explanatory. I hired Michael Erpelding to be my wealth management advisor in the hope that he would help me plan for my future financially. I have two kids and I was looking for someone who can help me with managing my investments and help me make a safe portfolio. I’ll be honest here, I have not done much investing by myself and I am not a finance professional. If I was, I would not have needed to hire Michael in the first place. I hired him so he could guide me in making a safe portfolio that could secure my future and my family’s future. I made a terrible mistake by trusting Michael.
MichaEl forced me to invest in certain companies and I ended up losing half of my investments. They were my savings and now they are all gone. On top of all those losses, Michael started avoiding me too. After I lost my investments, I could never meet him or talk to him on call because he would always be unavailable.
Michael Erpelding – Founder and Wealth Management Advisor
Michael Erpelding is the founder of Erpelding Wealth Management. He is a wealth management advisor and has been working in the industry since 1987. He has CLU, RICP, and ChFC certifications. You can find all of this information on his website. He has a dedicated bio where it says he has built a practice on integrity, honesty and client-focus. His website also claims that Michael plays an important role in the careers of other finance professionals. After my experience with him, I don’t think anyone should get help from Michael in their careers. He would only make them greedy and crooked like himself.
Did You Know?
- CLU stands for Chartered Life Underwriter
- RICP stands for Retirement Income Certified Professional
- ChFC stands for Chartered Financial Consultant
All three are certifications to mark the expertise in trade and commerce.
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I found out about Michael through the internet. At that time, I was looking for financial advisors and his name popped up, I read about him online; I saw his profile and he seemed like a really trustworthy and reliable professional. Now I think he has just spread lies on the internet so people like me would fall prey to his terrible services.
My Experience with Michael Erpelding
I wanted a safe portfolio, but Michael forced me to invest in high risk instruments. Now, Half of my investment is gone and Michael is nowhere to be found.
When I first met Michael he seemed like a genuine person. But even in that meeting I suspected him to be a little arrogant. I did not mind it much because I thought to myself, “He is a successful guy, why wouldn’t he be an egoist?”.
Now that I think about it I believe I should have trusted my gut and avoided Michael.
I had told Michael explicitly about my financial goals and how I wanted to create a secure pool of funds for my children. To be precise, I don’t know if Michael heard me clearly or not but in our next meeting he suggested an aggressive portfolio. I must clarify the difference between the two here. A safe investment portfolio focuses on investments with low risks. On the other hand an aggressive portfolio focuses on Investments with high risk but with high yields as well.
As far as I know, people with short-term goals prefer to have an aggressive portfolio. Similarly, those who are looking for long-term security and plans tend to stick with a safe portfolio. Both of them have their pros and cons.
When Michael recommended me a very aggressive portfolio I asked him why he recommended me such an investment strategy because I had already told him about my future financial plans and goals. He told me that I shouldn’t question his decision and if I follow his advice I would not have to worry about my children’s financial future. I went against my gut instinct and followed Michaels advice. I thought to myself, “after all, Michael is a renowned financial advisor and I don’t know much about Investments.”
It was a huge mistake. I lost most of my investment within the span of a few months. Michael started avoiding me and whenever I would request a meeting with him his assistant would cancel the meeting a day before. It’s been many weeks since I talked to Michael. His staff never tells me anything about when I can meet him or talk to him on call. I realize now that he avoids me all the time because he doesn’t want to face me. Last time I requested a meeting with him, his staff told me that he is gone on a vacation. But when I went to his office I saw his car parked there.
I had many plans for my kids’ future and now I don’t think any of them will come true. I should’ve never followed Mike’s advice but now it’s too late. He earned a hefty commission from my account and I suspect that he might have some interest in those companies he recommended me to invest in.
I should’ve stopped right when Michael suggested an aggressive portfolio. I mean why would he suggest an aggressive portfolio when he knew my goals?
For a guy who runs an entire wealth management company, Michael is definitely a disappointment. He seemed like an amazing professional at first but now I know that it was all just an act. I have stopped availing of his services and I don’t think I would ever hire a financial advisor again. There are many kinds of terrible professionals but Michael tops the list. Don’t risk your savings with Michael. He might ruin your financial future too.
Michael Erpelding forced me to invest in risky instruments and I ended up losing my funds. He doesn't listen to his customers and forces his wishes on them. I don't recommend him at all!
- Doesn't listen
- Full of ego and pride