Financial Industry think their clients are "muppets"?

darkpool

Jegersmart wrote: »

Good post Dunstonh - why do people frequent forums with a giant axe that needs grinding? Seems like waste of time imho.

J

p.s. why do these threads always go off topic? I am sure I saw that the OP wanted to dicuss broader issues regarding banking and financial institiutions......?

have you ever dealt with GS? any other IB?

the average poster here is likely to deal with an IFA at some point, but not with an investment bank.......

Lokolo

darkpool wrote: »

have you ever dealt with GS? any other IB?

the average poster here is likely to deal with an IFA at some point, but not with an investment bank.......

Then why start a thread about an investment bank if you don't intend to talk about it?

I still find it funny that you start a thread saying that because 1 IB is bad, everyone in the industry is.

Lokolo

Neverland wrote: »

I don't have any to hand (aka I can't be bothered to look), have you seen any?

Active management should work much better in inefficient markets like emerging markets, but the management charges and other costs on specialist funds tend to be much higher than average

Personally, after having shares in TEMIT and the F&C EMIT (RIP) I've now switched my emerging market investment over to an index tracker

I can't be bothered either tbh but my point was that it seems OK for anti managed fund investors to say "Oh just because you found one that does doesn't mean it's ok across the board" but vice versa when I ask can you show it across the board that managed funds aren't worth it, you show it for one index....

darkpool

Lokolo wrote: »

I still find it funny that you start a thread saying that because 1 IB is bad, everyone in the industry is.

it does indicate that some (most ?) in the financial industry put self interest ahead of their clients needs.

maybe something to be remembered when dealing with the financial industry?

Lokolo

darkpool wrote: »

it does indicate that some (most ?) in the financial industry put self interest ahead of their clients needs.

maybe something to be remembered when dealing with the financial industry?

No, it indicates ONE company is bad in an industry.

Not some. Not most. ONE.

cloud_dog

darkpool wrote: »

ripping peole off is always wrong. but sometimes you can't sweat the small stuff.

Again, you are applying your view. It may be small change to you but to someone without a lot of disposable income or wealth it is just as serious, even more so.

darkpool wrote: »

like it or not an hour of a plumbers time is not a fortune (compared to someone paying 2% every single year on a 500k portfolio)

If I had a £500k portfolio I might feel that is not an unreasonable amount to spend on expertise to ensure I and my estate receive all the available tax-breaks and ring-fencing available.

Your scenario above is identical to why call in a plumber when you could do it yourself? Answer........ some people can't / don't want to do it themselves.

dunstonh

the average poster here is likely to deal with an IFA at some point, but not with an investment bank.......

So, why start a thread on investment banks if all you want to do is slag off IFAs?

rpc

I think it's fair to say that some DIY investors also have muppets for clients...

darkpool

cloud_dog wrote: »

If I had a £500k portfolio I might feel that is not an unreasonable amount to spend on expertise to ensure I and my estate receive all the available tax-breaks and ring-fencing available.

i think if you had 500k and wanted tax advice you would go to a tax accountant, or maybe even a specialised trust lawyer, but not an IFA.

and you certainly wouldn't give them 10k a year.

darkpool

dunstonh wrote: »

So, why start a thread on investment banks if all you want to do is slag off IFAs?

by "slag off" you mean present a different viewpoint other than "go onto unbiased.co.uk and get an IFA"?