In the first ever official episode of the #EverythingMoney Show – launched in 2016 – Arman talks about a harsh topic that most financial professionals run from…
The lack of accountability & responsibility in the financial services industry.
Due to the fact that finance pays so well, many consultants & advisors forget the reason for the existence of their profession… helping clients achieve their financial goals.
Imagine spending 40 years of your life working your butt off… saving every extra penny that you can and investing it in a mutual fund, 401k, or IRA… and per the advice of your financial planner, leaving it in the “actively managed funds” that will yield “outstanding returns” and “make you rich beyond your wildest dreams…
… Only to find out that not only are your funds not secured from the inevitable market crash, but also that everything you worked so hard for can be lost within a matter of a few months.
That’s exactly what happened to millions of retirees as they went through market crash after market crash…
There needs to be accountability in the financial services industry and it starts from the very top of the biggest brokerages and institutions in America.
The truth of the matter is that as financial planners, consultants, and advisors, we can earn a great income by simply doing what’s right for our clients and securing their assets against the inevitable market corrections that come about every 7-10 years.
Don’t get us wrong… there are clients who can afford to take big risks in exchange for big returns, but chances are pretty good that our grandparents – and maybe even our parents – are NOT those people.
Greed has been the sole reason for the loss of trillions of dollars in retirement assets, and it needs to stop.