Exponential Learning
The Trust Problem: Why Financial Advice Runs on 'Trust Me' — and Why That Era Is Ending
22:29
Thesis: the financial advisory industry has reinvented its pricing three times — stockbroker commissions, asset-based fees, free trading — without ever fixing its central defect: there is no reliable way for an investor to know whether an advisor is any good. Key points: most advisors keep no compliant performance composites, so advice is sold on social trust — relationships won on golf courses,…