Skip to content
Andrew Tobias
Andrew Tobias

Money and Other Subjects

  • Home
  • Books
  • Videos
  • Bio
  • Archives
  • Links
  • Me-Mail
Andrew Tobias
Andrew Tobias

Money and Other Subjects

My Cousin Benny

May 30, 1996January 30, 2017

Here’s an e-mail from a fellow who wondering whether we might be cousins. He is a fee-based financial planner (the good kind, who don’t take sales commissions for steering you into particular products). His last name, coincidentally, is the same as mine. And in fact it does seem just possible that in the 15th or 16th Century we may have shared a common ancestor.

Anyway, here’s his story:

“I started my career as an accountant in NYC,” he says, “and went out on my own in 1980. I always enjoyed giving people advice, which is why I gravitated to financial planning.

“Since I’ve been in this business I’ve always found myself to have different philosophies from most of my colleagues. For example, when I was starting out I took a psychological test for a major brokerage firm. My brother-in law was branch manager, so I got to see the results. The test showed that I was the kind of individual who would feel the need to educate my clients as well as understand the investments I would be recommending. It even mentioned that I would feel the need to read prospectuses.

“It was actually pretty accurate. I was that kind of guy. But I was told I could not succeed as a broker with those attributes. And here I thought they were positives!”

So eventually he became a fee-based financial planner rather than a stockbroker.

“In the years since then, I have rarely agreed with most other advisors on issues such as insurance and investing. On a personal level, I don’t consider myself cheap, I just don’t like to throw money away needlessly. That’s why I wrote you. Seeing my beliefs in print written by someone else was amazing to me. Now I am convinced we must be cousins.”

Actually, Ben looks a little like my brother. (Well, just a little.)

Post navigation

← The Truth Machine
Reader Mail →

Quote of the Day

"Drill for oil? You mean drill into the ground to try and find oil? You're crazy."

Men Edwin L. Drake tried to enlist to his project to drill for oil in 1859

Subscribe

 Advice

The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit." -- The New York Times

Help

MYM Emergency?

Too Much Junk?

Tax Questions?

Ask Less

Recent Posts

  • Repeal The Steal

    July 2, 2025
  • Our Record-High Stock Market

    June 30, 2025
  • Stuffing The Goose

    June 30, 2025
  • Yes! (Plus A Bonus)

    June 29, 2025
  • How Does THAT Make You Feel . . .

    June 27, 2025
  • Randi, David, Ken, and HYMC

    June 26, 2025
  • Six Links For Your Consideration

    June 25, 2025
  • Weekend Reading

    June 20, 2025
  • Oh, My

    June 18, 2025
  • 3 Quick Clips

    June 17, 2025
Andrew Tobias Books
  • Facebook
  • Twitter
©2025 Andrew Tobias - All Rights Reserved | Website: Whirled Pixels | Author Photo: Tony Adams