[flamesfever]

Originally Posted by Enoch Root

Strongly disagree with this.

Of course there are lousy advisors at any firm (well, not mine, but we are pretty small), but there is so much more to it than that.

Large firms like banks offer internal products that are more profitable for them, but not better for you, and no matter what anyone tries to tell you, the advisors are motivated to sell some of those products.

Also, your suggestion that at the higher levels, there is no difference, has it entirely backwards, IMO, and the truth is actually the opposite. At higher levels, where private firms excel, the difference is the most significant.

Most people deal with the banks because when they are just starting out, they don't know any better, and they usually don't have much in the way of assets, so they don't have a lot of options. However, it is often the case that they move on from the banks as their portfolio grows. And there are lots of good reasons for this.

It is also the case that many of the better advisors at the banks move on at some point, for the same reasons.

What are these products?