Media exposes advisor incompetence tells how a CBC video used hidden cameras to document financial advisors colossal incompetence. Show Me The Money is the name of the CBC Marketplace presentation by hostess Erica Johnson. The CBC TV segment is must see TV for any investor or financial advisor.Â
The lesson serves as a heads up making investors aware that some financial advisors are a danger to your wealth. Links at the end guide you to related lessons if you want to learn more.
Media exposes advisor incompetence in Show Me The Money which ran February 28, 2014, as part of the Marketplace broadcast. Marketplace is a consumer information show broadcast on CBC TV in Canada.
Undercover cameras
A fitness instructor representing a typical person without financial knowledge goes undercover seeking money advice. In the scenario, she has a $50,000 cash inheritance, family income of $102,000, mortgage of $74,000 and a $25,000 line of credit. She has no financial knowledge so seeks the advice of financial professionals.
The advice she records will appall anyone with financial knowledge. As now structured, the financial industry and financial advisors have big conflicts of interest. By exposing clients to more risk financial advisors can make more money. One advisor even suggested investing could be a free ride!
The awful financial advice experience of one investor tells how the man lost both his home and marriage. He sees himself financially ruined by outrageous financial advice.
CBC show is must see TV
Erica Johnson CBC Marketplace Hostess presented, Show Me The Money, Marketplace on CBC TV, a must see TV for any investor or financial advisor. It takes 22 minutes to watch how media exposes advisor incompetence in this video segment. In that short time you learn of many risks and misses that wait for the uninformed investor. Click the link to watch outrageous promises, misinformation and appalling financial advisor incompetence.Â
Quality financial advisors and planners
Do not let this lesson, media exposes advisor incompetence, keep you away from all financial advisors. There are quality, competent financial advisors and financial planners that are well worth their fees. Unfortunately, there are far too many that are not. Some are outright rip off artists, others incompetent and some even dangerously ignorant. Too many do not know investing basics let alone what advice to give.
Inform yourself, watch the Show Me The Money video.
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Effective Investing & Finance Research:
Introducing Effective Investing & Finance Research Lesson 1
Investor homework grows profit Lesson 2
Find money making stocks Lesson 3
Money making stock issues Lesson 4
Using watch list holds Lesson 5
Oprah got it right – Aristotle got it wrong Lesson 6
Investopedia finance and investing education Lesson 7
10 Point investor checklist Lesson 8
Investing confidence, taxes and learning Lesson 9
Media exposes advisor incompetence Lesson 10
5 Key finance checks Lesson 11
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