Quote:
Originally Posted by Slava
What advantage is there to the bank? All I see coming from there is a slate of proprietary funds. Independence is so critical. It's not a knock against the bank advisors, but they have a limited slate of investment funds they can offer, and that's that. Most of them are MFDA advisors and they can't even discuss stocks or single securities.
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Apples and oranges. If all you think banks offer are proprietary funds you’re either not knowledgeable about what they do or are intentionally misleading the conversation.
By the way another red flag. Any advisor that deals in absolutes and tells you option a is better than option b for everyone in every scenario 100% of the time is probably lying. Or delusional. Either way, it’s a bad sign.
I’ll reiterate, there are good advisors everywhere and bad advisors everywhere. Do your research, find someone you trust and doesn’t over promise. If their only argument I’m support of themselves is to lie about their competition, instead of speaking to their own accomplishments, it’s a bad sign.
Not pointing fingers at anyone here of course. I’m speaking generally.