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Fun. "Hey, look! Here's something obvious you've preferred to ignore. Don't ignore that stuff from now on." I like his thoughts and the way he puts it all.
It would have been worth the price of admission just to see the reactions to this sermon from the Financial Planners in attendance at this trade conference.
Since probably at least 50% of the people in attendance at such a trade confetence, pride themselves on carefully researched portfolios of both index and actively managed funds appropriate for their clients. Clients whom they don't consider and look down on as the caricature painted here with every imaginable human failing. Clients that are recognized as fairly educated and informed and increasingly getting involved in the planning process and don't tolerate their FPs treating them as people with peanut brains in financial matters.
The same 50% that think the other 50% FPs who treat their clients otherwise are on their way to extinction.
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Since probably at least 50% of the people in attendance at such a trade confetence, pride themselves on carefully researched portfolios of both index and actively managed funds appropriate for their clients. Clients whom they don't consider and look down on as the caricature painted here with every imaginable human failing. Clients that are recognized as fairly educated and informed and increasingly getting involved in the planning process and don't tolerate their FPs treating them as people with peanut brains in financial matters.
The same 50% that think the other 50% FPs who treat their clients otherwise are on their way to extinction.
@BobC, were you at this conference?