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Episode 3179:
ESI reveals the unsettling truth behind many so-called financial advisors, showing how little expertise some bring to the table, and how much it could cost you. With real-world locker room eavesdropping and a compelling breakdown of AUM fees, this piece empowers you to take charge of your own finances and avoid being sold instead of served.
Read along with the original article(s) here: https://esimoney.com/financial-locker-room-talk/
Quotes to ponder:
"It’s really a sales job more than anything."
"They call me a financial advisor because it sounds better but I’m really mostly an insurance salesman."
"There’s no reason you can’t be your own money manager and be quite good at it."
Episode references:
Morningstar on Actively Managed Funds vs. Index Funds: https://www.morningstar.com/lp/active-vs-passive
Vanguard Total Stock Market Index Fund (VTSAX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vtsax
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