Pin It

Financial Advisor Incompetence Exposed

Erica Johnson CBC Marketplace

Erica Johnson CBC Marketplace Hostess

Show Me The Money, Marketplace on CBC TV

Using hidden cameras to document a project that put financial advisors to the test exposed colossal incompetence. Show Me The Money ran February 28, 2014, as part of the Marketplace broadcast. Marketplace is a consumer information show broadcast on CBC TV in Canada.

Undercover cameras

A fitness instructor representing a typical person without financial knowledge goes undercover seeking money advice. In the scenario, she has a $50,000 cash inheritance, family income of $102,000, mortgage of $74,000 and a $25,000 line of credit. She has no financial knowledge so seeks the advice of financial professionals.

The advice she records will appall anyone with financial knowledge. As now structured, the financial industry and financial advisors have big conflicts of interest. By exposing clients to more risk financial advisors can make more money. One advisor even suggested investing could be a free ride!

The awful financial advice experience of one investor tells how the man lost both his home and marriage. He sees himself financially ruined by outrageous financial advice.

CBC show is must see TV

This is must see TV for any investor or financial advisor. In the 22 minutes needed to watch this video segment, you learn of many risks and misses that wait for the uninformed. Click the link to watch outrageous promises, misinformation and financial advisors displaying appalling incompetence

Quality financial advisors and planners

There are quality, competent financial advisors and financial planners that are well worth their fees. Unfortunately, there are far too many that are not. Some are outright rip off artists, others incompetent and some even dangerously ignorant. Too many do not know investing basics let alone what advice to give.

Inform yourself, watch the Show Me The Money video.

Share the knowledge!

Please share this blog with your family and friends. Subscribe free and get all new White Top View blog posts in your inbox!

New readers start with the White Top Investor website layout and organization explained: Click here to go to the Start Here Page.

Click here to read Other Issues of White Top View

Your comments and questions are welcome here. Or email me at WhiteTop@WhiteTopInvestor.com. Bite-sized White Top View posts are lessons to help non-investors on the way to becoming knowledgeable, comfortable, confident investors. By demystifying investing and giving you a better understanding of markets, one small step at a time, you can become the master of your financial security and independence. The White Top Views email list will never be shared or sold.

Have a prosperous day!

Bryan

White Top Investor
whitetop@WhiteTopInvestor.com
www.WhiteTopInvestor.com
Let’s connect, follow me: Twitter Google+ LinkedIn Facebook

These discussions and information intend to help you better understand markets and investing. I am not a financial or investment advisor; opinions are for informational and educational purposes only and are not intended as investment advice. For syndication of the site or blog, please contact info@WhiteTopInvestor.com.

Image courtesy FreeDigitalPhotos.net

Image and video courtesy CBC

, , , , , , , , ,

No comments yet.

Leave a Reply

Powered by WordPress. Designed by Woo Themes

UA-43363515-1