Trust issue Imo. No way objectively evaluate the performance of a financial analyst / advisor. Skeptical that the advisors
- don’t know what’s best
- put their interests over ours.
Need to separate the wheat from the chaff; like mutual funds i.e. regulated to report on their portfolio, and results; you can see underperformance and separate the wheat from the chaff.
Similar regulations may help – transparency on commissions; there should be a ratio of Commissions / XIRR that advisors should be required to report. Or there needs to be a platform that does this. Otherwise most people have more trust out of the box on finfluencers (where followers is a (unreliable )proxy to trust) vs RIAs where there is no such objective metric.
| Subscribe To Our Free Newsletter |
