The question remains, in today's world - with an abundance of information - why are people still relying on others to determine their financial goals.
I could simply tell someone to go and buy one of Vanguards diversified funds - and this would be better advice than 99% of advisers.
Instead, they will be set up with a ridiculous, and unnecessary platform, which attracts BS fees - coupled with a suite of products aligned to their own conflicted interests.
Young people have already switched onto the swindle and are bypassing active investment/financial planners altogether - and investing in low cost index funds/ETFs.
The days of the advisor being the holder of information not available to others - is long gone - and so are the ridiculous fees.
It can all be achieved now for a fraction of a percent in one trade.
The financial revolution has begun - and the days of trailing commissions/zero based performance fees/management fees in excess of 1% etc. are coming to an end.
Passive investment products are destroying not just active management, but also so called financial planners looking to pile assets into their mates new beaut fund.
MFG Price at posting:
$40.50 Sentiment: None Disclosure: Not Held
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