Quote:
Originally Posted by rain_e
It's good they declined because it would be a waste of money. It's the same as one of your clients suing you. Advisors have clients sign waivers for this stuff.
The unfortunately part of WFG like stated are the advisors that are focused more on recruiting than providing a service. Even though the service they provide is like most advisors from a variety of companies that focus on having their clients go into high cost investments so they make the larger commissions.
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Actually, it's not as futile as you think. There is a lawyer in Saskatchewan going around advertising to get investors to sue their advisors.
And clients don't sign waivers.
If that had happened to me, at the very least I'd be talking to the guy's compliance department. There have been cases where companies have made up the losses. I'm not saying they would have, but I would have started there. In fact, the best example of this happening did involve Manulife and the firm did make up the losses when it was determined that a product was used inappropriately by advisors and the firm didn't research the product properly. I can't recall the product but Slava may know.