Daily Wealth… It’s a free newsletter service, but what’s the catch? They say “there ain’t no such thing as a free lunch”, so is this really the amazing free financial advisement service that it is claimed to be or is there some big downside to it? Could it possibly be a scam?
First off, if you are wondering if this is all a scam you certainly are not out of line for wondering such. After all, the company behind it all, Stansberry Research, has had a run in with the SEC back in 2003 and was found guilty of fraud. That said, it’s been a while since then and they have cleaned up their act a bit.
But anyways… Is this a scam or not? Daily Wealth is free to subscribe to and offers “wealth building advice”, but there is sort of a catch although I would not consider it a scam myself. In this quick review I’ll give you a good understanding of what you are looking at here so that you have a better idea of whether or not you should subscribe.
Daily Wealth Review
As mentioned, Daily Wealth, is a financial newsletter service from Stansberry Research, which is a privately owned American publishing company that is behind a number of other financial newsletters.
There are two versions of the newsletters… the free Daily Wealth newsletter and the paid premium version, or Daily Wealth Premium. So as you can imagine the free version is not quite as good and does not provide the insight that the premium version does. It gives you a taste of what’s going on and there is definitely some value in it, but as the subscriber reviews suggest… there is a noticable push to get subscribers to go premium.
The newsletter’s chief editor is a man named Dr. Steve Sjuggerud. He joined Stansberry Research in 2001 and is an editor of True Wealth as well, which is another newsletter focused on safe alternative investments, with a fair amount of focus on Chinese stocks and all the potential there. Generally speaking Steve does not believe in big risk investments. He looks for the low risk ones that have been “flying under the radar” so to speak.
*Steve is also behind the “MAGA Checks” teaser that I reviewed, which is pretty darn misleading.
What You Get If You Subscribe
What you will get is simple. You don’t get access to any back-office or anything like that. You simply receive “wealth building advice” via email that you can take in at your own leisure. Often times what you get is only half of the story. There will be a bit of advice provided but there will be information left out which will lure you into buying the premium version of the newsletter, which I think should be expected because of course this place has to make money somehow.
That said, there are some pretty good reviews of the newsletter service, which I will go for next, and it does provide some very good and useful information… All for free. So happy to get any better than that? I mean sure it would be nice if there were no ads or pushy suggestions, but that’s just the way things are.
Much of the focus of the free version is on trends and past performance of recommendations of the paid version.
Subscriber Ratings & Reviews
When I look into financial newsletter services like this I always like to try to find as many subscriber reviews as possible. StockGumshoe is a good place to find such reviews. Basically this website is an investment service review site that allows anyone to review different services and often gets a lot of feedback.
Overall the feedback on Daily Wealth is actually pretty darn good… Better than I was expecting. The overall rating with around 70 votes is a 3.6 out of 5 stars. Now that could definitely be better but it is decent compared to many of the other similar subscription services out there that I have reviewed.
Many subscribers are happy with the value provided. They do reveal some of the information that they also give to their paid premium subscribers, although not as much of course. Although not every bit of advice is spot on, I have read reviews of subscribers making good amount of money based on the calls Steve has made and advice given.
But of course there are always going to complaints…
Apparently Steve does get a little carried away with some of his opinions and recommendations at times. For example, one subscriber pointed out that he was recommending high-yield Iceland bonds when the country was in a fragile state, right up to when the economy imploded and currency, stocks, and bonds lost 80% or more of their value.
But I would say the most common complaint is that of the newsletter service being filled with too many ads and promotions of premium services, mainly pushing people to upgrade to the paid premium Daily Wealth service. Much of the information provided just shows you how well the premium recommendations have been doing to try to get you to buy in. These subtle little sales pitch is can get annoying
Conclusion – Scam?
In my opinion the Daily Wealth newsletter is not a scam. The only somewhat “scammy” aspects I see are how they promote other paid newsletter services, but as I’ve said I think this should be somewhat expected. It is a balancing act… They have to provide good information to subscribers to keep them subscribed but of course they don’t want to give away too much information because then what would the point of a premium membership be?
If you are just looking for a little bit of financial advice and not looking to spend any money then this may be worth subscribing to. What have you to lose? If you don’t like it you can always unsubscribe and walk away without losing any money.
But if you do, as always, be sure to do your own research and don’t always take one person’s advice as being the whole truth. While Dr Steve Sjuggerud provides very good recommendations and advice at times, he is not always right.
Comments or questions? Leave them below and I’ll get back to you soon 🙂