Death in Slow Motion

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Mark Kahn
Member
Mark Kahn

Re Rusty’s list:

1. There can be real value here if, as you note, the FA is one of clear eyes, full heart

2. No longer defendable in current transparency / fiduciary / regulatory environment

3. Never forget that the government often “fixes” something by making it worse

4. The kindest comment for this is that people will do anything to avoid a hard decision / solution: clear eyes, full heart – tell the truth and be willing to get fired

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Desperate_Yuppie
Member
Desperate_Yuppie

In my office the most successful (read: highest compensated) FAs are the ones who couldn’t tell you the difference between a stock and a bond. They’re basically getting paid to allocate to one of the high-cost SMAs and then be a friend to their clients. They’re glorified bartenders. And they make a lot more money than I do. How long do you think that can last before someone notices what a racket it is?

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M P
Member
M P

Burn it all down.

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