My question involves personal finance in the State of: CA
I signed a contract with a financial planner who advertises being "real estate savvy".
I mentioned upfront that I didn't want another glorified investment peddler (advisor) and was assured that this would be a different experience.
The understanding was that I would receive advise on my rental property business and potential ideas for leveraging or expanding my hard assets.
Weeks into the relationship and now I am being peddled private REITs and this appears to be what they're in the business for. Massive upfront commissions and fixed terms on the use of the clients money.
In a nutshell I feel mislead. The "advise" is anything but non-biased. The vehicles being suggested allow anything but leverage (and liquidity).
The "plan" (hard sale) comes on the last meeting. I'm weeks away but feel I should terminate now. There's a lump sum due at the end. Any ramifications if I should consider if I back out now?