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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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I don't agree with that.
Advisors have a fiduciary responsibility and, even if the client has agreed to the investment decision and signed off on it (usually the case), the advisor is held to a different standard as a professional and can very much still be liable. Their representative firm also - even if the firm isn't aware of or doesn't condone the actions of the advisor (as the Manulife advisors here likely well know).