Three Financial Advisors Arrested

Aegis

Absolutely - I'd never disagree with that. It's always good to ask questions at every stage of a professional engagement and to cross check the views if you can. My only real point was that tarnishing an entire profession for the actions of a few isn't reasonable in the slightest.

grey_gym_sock

i find it reassuring to see financial advisors are not above the law.

for instance, i'd have more confidence in AIM if some of the directors of dodgy pump-and-dump AIM companies were being arrested. not to mention the directors of big FTSE 100 companies, who seem to be completely above the law.

Peelerfart

Three Financial Advisors Arrested!!

Must admit I read that and thought it was the start of a joke!

Sorry proper, real advisors

bostonerimus

The bigger scandal is what passes for good advice from some advisors and the charging of ongoing fees for what often seems like very little work.

Glen_Clark

Reaper wrote: »

vastly over paid footballers.

I have no interest in football, but no problem with footballers being paid £millions because none of it comes from me Thats because I have a choice of whether to contribute to football, as do those who pay to watch it so footballers must be worth the money to those who choose to pay to watch them.
If anyone is overpaid its those we are forced to pay (more than footballers) whether we want to or not.
Like the extended Royal Family for example.

HappyHarry

bostonerimus wrote: »

The bigger scandal is what passes for good advice from some advisors and the charging of ongoing fees for what often seems like very little work.

No, it is really not.

A bunch of cowboys persuading people to lose huge sums of money in a bunch of high risk unregulated investments, and destroying peoples lives in the process is a scandal.

An adviser keeping an eye on a diversified pot of suitable investments and being paid to do so is not.

bostonerimus

HappyHarry wrote: »

An adviser keeping an eye on a diversified pot of suitable investments and being paid to do so is not.

0.5% or more for "keeping an eye" on some investments sounds like robbery to me......YMMV

bowlhead99

bostonerimus wrote: »

0.5% or more for "keeping an eye" on some investments sounds like robbery to me......YMMV

£5 for an Uber guy to drive me half a mile to the station when I could walk for free, sounds like robbery to some people, but I can see why they have a minimum fee, and sometimes choose to pay it rather than carry a heavy bag in the rain when I'm not in the mood for exercise.

Aegis

bostonerimus wrote: »

0.5% or more for "keeping an eye" on some investments sounds like robbery to me......YMMV

That would only be like robbery if the fee wasn't agreed and the adviser took it anyway or if the fee was for a particular service that the adviser had no intention to deliver. Otherwise it just sounds like a contractual arrangement, and while you might think it's expensive, it's nothing like robbery.

capital0ne

Cheers everyone, fun little thread!