Quote:
Originally Posted by Enoch Root
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).
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So how responsible is an advisor? I'd gladly hire one to try and make me money and if he loses any of it I'll just sue him?