Comment on Just think about it
Joncash2@lemmy.ml 1 day agoIt’s really not. Which is why there are laws around accredited investing and why agents have to learn the Series 7 and follow Finra rules. But if you literally don’t understand anything I said, it’s obvious why you think it’s magic.
Lets put your hypocrisy in a different light. If all jobs require skill, then the job of a financial advisor requires skill because it’s trivial to make 100k from 10 million? It’s as if your trying to argue that there IS unskilled labor and we should complain about them.
Dasus@lemmy.world 1 day ago
Nothing magical about earning money.
It’s beyond trivial.
You should never hire a financial advisor. That’s like going to see a chiropractor for back pain. What one needs is a fiduciary. And hiring one when you’ve a 100 million is beyond trivial. And a fiduciary making 100k with a 100 million is beyond trivial.
Joncash2@lemmy.ml 1 day ago
Oh dear lord. A fiduciary is a financial advisor. In fact it’s the purpose of the Series 7 to make sure they’re one and the same. Here’s an article on it.
…smartasset.com/fiduciary-costs-benefits-sem1/
Like I said, if you don’t even understand what I’m saying, it’s not a surprise you’re as ignorant as you are.
Dasus@lemmy.world 1 day ago
Again, ignoring the actual arguments to pretend like I’m not making sense.
I’m laughing out loud at the irony of you talking about strawmen. You keep assuming we’re gonna work in America, when I’ve explicitly stated hypotheticals in Europe. But someone might not have the understanding of European financial institutions, would they? And so they’d desperately cling on to the pretense that they hold some arcane secrets with their asinine avoidance of reality. What you’re doing is equivocating. (I know you’ll have to use a dictionary. :/)
You know exactly why that standardisation is happening. But you’re pretending as if I should know the most recent developments in the US, when you don’t even understand the very basics of European banking? Seems like a bit of a hypocritical strawman. ;DD
Clearly the point I’m making there is that just like chiropractors, “financial advisers” didn’t used to have a fiduciary duty. They’re fixing the problem I was talking about. Which you pervert into pretending like I have no idea what I’m talking about. It’s utterly ridiculous.
This is my third language. What if I were to be as ethnocentric as you? Oh right, you would seize to have the ability to communicate with me due to you not speaking my language, but me being able to speak your language. Now when I was in business school like fucking 20 years ago, shit was kinda different. That doesn’t matter though, as the **basic argument you’re making is ridiculous ESPECIALLY for someone who seems to (at least attempt to) work in the financial sector.
You’re saying explicitly that it wouldn’t be trivial for someone with a fiduciary duty towards you to make you 100k when you give them 100 mil to play with? Just how shit of a finance person are you if can’t do 100k roi on 100 mil (and yes, of course everything has small risks, but again, aside from the entire world economy crashing)? :D
Joncash2@lemmy.ml 1 day ago
You’re not making any sense. You said to seek out a fiduciary not an advisor. Now you’re claiming that some time in the past, which would be distant past btw, that’s when I should have seeked out a fiduciary? What you’re saying makes no sense. Anyway, EU has the same fiduciary laws for institutional investors like financial advisors.
purposeofcorporation.org/fiduciary-duties.pdf
So, I don’t know what you’re on about.
Also, it doesn’t matter HOW shit someone can be at their job the reality is it’s easy to fuck it up. So, you just admitted it takes skill to be a financial advisor. Congrats you played yourself.