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In Reply to: Strippers can apparently better forecast the market than your financial advisor! posted by Rod M on May 27, 2022 at 13:55:55:
All of the "financial advisors" that I know of are paid a commission for the products they sell. In addition, they get ongoing 12b-1 income. This why they only steer people to products which they sell, and why they don't charge a fee for their advice. In other words, they're salesmen, not financial advisors.Here's an experiment: Ask a financial advisor to recommend a really good "no-load" mutual fund, and see how that conversation goes.
Edit: Financial advisors typically don't try to predict the markets - they want to make the sale NOW.
Edits: 05/28/22
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- Financial Advisors - Inmate51 06:20:31 05/28/22 (0)