While well-intentioned, giving clients advice in areas in which you have no qualifications has obvious perils. Here’s one you may not have considered: Doing so, makes you less likable.
Fear and anxiety are good for its business. It increases viewership. More viewers mean more revenue.
Your broker is unlikely to tell you there’s an excellent chance the mutual fund recommended won’t even survive for 15 years, much less outperform its benchmark index.
The basic premise of conferences is flawed. Attendees focus on the quality of the speakers and feed the myth that more charismatic speakers will contribute to a more productive conference. The data contradicts this premise.
The primary beneficiaries of 401(k) plans are advisors, record keepers and (most of all) mutual fund companies. The well-being of hapless employees is relegated to last place.
I wonder what makes the Canadian volunteers so different from these brokers. How can they justify spending their day ripping off their clients?