The financial world is one that is notoriously closed off from ‘regular people. So when films like ‘The Wolf of Wall Street’ or ‘Money Monster’ get released, it is a pretty big deal. In ‘Money Monster’, which stars George Clooney, a Wall Street guru is taken hostage live on air by a disgruntled and frenetic man who lost it all by gambling on his tips. What follows is a two hour exploration into just what is wrong with the American financial system. Brad Reifler, the founder and CEO of Forefront Capital, sees many of the problems that ‘Money Monster’ pointed out in day to day reality.
For Brad Reifler the biggest argument that he can make against Wall Street, and likely the most effective one, is just how clearly separated the upper class is from the lower class of investors. When it comes right down to it due to the SEC there is a clear split in the financial opportunities afforded to different financial classes due to an inherent bias, a belief that lower income investors just aren’t ‘smart enough’ to work with. This puts many lower tiered investors on an escalator while walking the opposite direction, simply treading water.
Next up Reifler was quick to point out that brokers on Wall Street experience a disconnection financially from their client. No matter how their client’s are performing with their portfolio the Wall Street brokers will get paid their money. This puts the client at a clear disadvantage as the brokers have nothing to lose and everything to gain. So it is clear that there is a power imbalance on the rise here and it is one that is going to hurt many people financially for the better part of the rest of their life.
Finally, Reifler believes that there should be a system in place to help lower income investors, the 99% of us out there, invest their money in a less risky way than in the stock market. That is why Forefront Capital and Forefront Income Trust, both owned by Brad Reifler, are working so hard with lower income investors to help them out. Read more about Brad on his Wikipedia page.