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I shit you not. The financial advisors at the banks, the geeky chinese guy with his own office and all the financial designations - CFP, CFA etc, makes 6 figures.
Boggles my mind that they get paid such a high rate for literally doing nothing and putting people into mutual funds. They do not have to structure portfolios, conduct trades or do anything that would require thinking. All they do is put you into the bank's mutual funds and these knobs get paid 100k easy.
The non-banking FAs are a different story - now you have hs drop-outs and university educated idiots pushing pyramid schemes and selling you insurance/finance products which you can get yourself through your local bank.
The true FAs are the cream of the crop, paid solely on commission and putting you into funds you cannot do on your own. You'll find these guys at the big brokerages, ie. wealth management companies - raymond james, big banks and their private banking divisions etc.
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