As I described in my last video, not all financial advisors have the range of credentials and experience you might expect from someone telling other people how to invest. So it’s no surprise that the investments they recommend may also be less advisable than common sense would prescribe.
The culprit here isn’t necessarily the advisors themselves. They’re often simply pretty good people with pretty good intent. But they’re also often caught up in an industry that permits if not encourages “suitable” advice to supersede “best interest” advice.
To the untrained ear, “suitable” versus “best interest” advice may sound about the same. But, believe me, there’s a wide moat between them in which everyday investors are too often left to sink or swim. How do you ensure an investment recommendation is in your best interests? Check out today’s video and subscribe here to keep building your bridge of understanding.
Original post at pwlcapital.com.