Contrarian Investors' News > Financial Services > Bitten investors grow wary of experts

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Bitten investors grow wary of experts

http://www.theaustralian.news.com.au/story/0,25197,25017575-...

Submitted by cij 17 months, 4 weeks, 11 hours ago

Investors are losing trust of the finance industry.

Tags: trust

comment (2) | Category: Financial Services | Add cij as a source

#1 - By PeteD, 17 months, 2 weeks, 7 hours ago.

Avg: Agree |

Haha, I have felt this way for a long time!

Being a financial advisor in the last seven years or so would have been easy.
Step 1) Add up total liabilities and assets
Step 2) Find out how much extra money they have each month
Step 3) Find the most appropriate sub-prime loan that they could 'afford' and recommend the immediate purchase of an investment property with standard negative gearing advice
Step 4) Ask for your hard earned (?) wage

I for one do not have an accounting or economics degree (though I did take one economics class at Uni), and even I can see that what they have been doing is well within the confines of 8th grade mathematics and the same advice you can get from any basic financial website. That fact that people paid for it is their own silly fault for not doing more research first or using their own brain.

Why put your financial future in the hands of someone with nothing to lose?

Reply to PeteD

#2 - By edison.henderson, 7 months, 1 week, 6 days, 13 hours ago.

I can see that what they have been doing is well within the confines of 8th grade mathematics and the same advice you can get from any basic financial website.
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edison.henderson

“http://http://www.ifsdb.com "dofollow" "nofollow">Financial Services

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