just posted this comment on fin24: Sadly brokers are not unlike - TopicsExpress

just posted this comment on fin24: Sadly brokers are not unlike unscrupulous used care salesmen. Usually the products the offer and advice given are more structured around the fee they will earn. They are essentially traders..selling you someone elses product for a fee. Perhaps they should be paid rather for their time, like doctors who diagnose, assess and then prescribe..no commission on the medicine they prescribe. I trust the doctor to prescribe the most appropriate medicine based on my needs - he wont be getting a commission from the chemist. I cannot trust a broker who will earn a commission on sales, and not a once off commission but an ongoing annuity commission. And brokers earn irrespective of performance...like state officials. I fired the broker, took over the portfolio and doubled it without any additions in four years. With the broker I was not quite achieving inflation. Read the full article:

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