Thursday, August 30, 2012

Dr. Bill Clark - Christian or Charlatan?

Trust me, I'm a doctor!
Unfortunately,  the rogues gallery of unscrupulous "advisors" with radio shows extends far beyond our friend Ken Moraif.  Another one of the worst is Dr. Bill Clark.  According to the bio on his website, he did his "doctoral work" at Cornerstone University.  But, here's an interesting fact - Cornerstone University's website doesn't list any doctoral degrees.  And, I'm sure that a lot of unsuspecting people assume that his degree is in something that would actually qualify him to give investment advice - but, it's not.  It's in counseling and psychology.  Oh, and let's not forget divinity and music - not a lot of math required.

He mails out flyers with scary lies ("IRA's and 401K's potential 80% Tax Rate" - utter nonsense) that are designed to frighten conservative elderly people into listening to the sales pitch that he gives at local restaurants.  It turns out that he was suspended from the investment industry by NASD (now called FINRA) for what the regulator reports as "fraud and deceipt" (sic), "high pressure sales tactics" and "false and misleading sales tactics".  He also got slapped with a big fine.  This happened while he was working at Merrill Lynch.

Now, this charlatan runs his own firm where he hawks insurance products to vulnerable elderly people.  He even offers to come to your event and play his trumpet for you (followed by the sales pitch, of course).  Even more amazing, he chooses to put his radio show/infomercial on christian radio stations in order to gain some credibility from that association.  Stay away from this guy and his firm!


  1. I counseled with Bill Clark some years ago and when I showed him the portfolio I had created, he said "You don't need me." We were not charged for his time.

    Didn't feel like "high pressure" or "fraud". No push for insurance.

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