Wealth managers could not be incentivized to cross-sell high fee financial products
By Hicbd
Tue Oct 4 2022 9:34 am
"Almost 5 years ago, my parents asked for help finding a financial advisor as they neared retirement. Given that I worked at a big bank, I eagerly took on the task, assuming it would be a piece of cake! Interview after interview, I kept coming to a similar realization: most of these advisors were pushing high fee products despite claiming they were fiduciaries...In other words, wealth management is antiquated, cookie-cutter, and ridden with hidden fees. People deserve better."
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