Topic: Financial "Advisors" (Read 1353 times)
If they don't know what BTC is, that's really surprising. The Financial Times published several articles about it, and most economic publications have already talked about BTC.
Yah, the personal finance blogs and journos all say "speak to your financial advisor" but the job title seems to apply to a hell of a lot of network marketers, who have checkbox certification and are beholden to the company sales brainwashing. I don't think you get near a "real" one at most banks unless you are HNW. I don't remember the title the actual ones have, more like Wealth Management Consultant.... even then you'd be like "I want 10,000 apple shares." and they'd be all "I think a better product for you would be our Sunshine Unicorn Tech Ventures Fund."
just remember. that financial advisors, spend a couple years in business college and then go to financial universities and then have to sit some exam to prove they know how the fiat system works.
they know nothing of real world currency. and only what those FIAT books have taught them
they know nothing of real world currency. and only what those FIAT books have taught them
You are completely wrong. Financial advisers get hired all day, and quit or get fired the next day. They recruit people who have no other options, only pay them commission, and give them nothing during training if they do not have the correct license. They sit there and demand you call everyone you know to sell them shit, but when your trainer sells them something, you don't get anything.
While they "study" to become financial advisers, they only study regulations and laws to pass the tests to get their licenses (which you can retake these tests btw) and they never learn anything about investing.
How do I know this, I fell into this sector not long ago, and thankfully left when I realized all they wanted to do is exploit my personal network for free leads. I knew nothing about fiance, never took a business course in my life, couldn't get a job anywhere, but I can tell you that financial and life insurance companies were drooling over me.
People who know shit about finance are analysts, the others are just doing what they can to make money.
My next door neighbor is a financial manager AND the first to admit that people in finance are the least likely to help you with bitcoins. It's flawed to even think they would be a good choice. This is the reason why Kodak could not see the digital future of photography and BlockBuster thought people would drive to the mall to get their video content rather than stream it.
This is interesting. Never thought about it this way.
In some respects true, I doubt my great grandfather went to the livery stable to ask whether they'd most recommend Mr Ford's or Messrs Dodge's products.
However, IMO Blockbuster committed hari-kari as much as it really suffered from online video options, at the first downturn in revenue, they went for the "screw the customer" model with hidden fees and sneaky and exorbitant late fines etc, which SENT people looking for other options... by the time they nixed that, it was death spiral already, had they not done that, they could have had time to transform business model to online or redbox type operations.
Kodak made an honorable last stand in the consumer market IMO (They still do business stuff) they brought out desktop printers that were NOT subsidised by inflated ink cartridge mark-up/copytrolling . So ink was $10 a cartridge, not $60 .... unfortunately this seemed too little too late.
I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"
It's interesting. They never recommend it, and often have no idea what it is.
Today I was at table with four "advisors".
Response #1: "bit what? What is that?"
Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."
Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.
LOL @ response #2. What do you think many drug dealers and gangs use to buy guns, drugs, and other "bad stuff"?
I'm pretty sure they use FIAT (USD, EUR...etc).
No wonder they never benefitted from utilizing bitcoin, they can't even see the difference and glaring similarities bad things are bought with USD etc.
This stuff makes me laugh.
and going by history if u use a computer u where a geek, now ur a warlord haha
Each with their very own opinion and I just wonder how they managed to get along and sit on the same table.
I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"
It's interesting. They never recommend it, and often have no idea what it is.
Today I was at table with four "advisors".
Response #1: "bit what? What is that?"
Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."
Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.
I think we would have an interesting conversation about it
But its always nice to get a financial perspective from financial advisers on it ^^
(No commission I dunno XD)
http://www.moneysense.ca/invest/find-the-perfect-financial-planner
My next door neighbor is a financial manager AND the first to admit that people in finance are the least likely to help you with bitcoins. It's flawed to even think they would be a good choice. This is the reason why Kodak could not see the digital future of photography and BlockBuster thought people would drive to the mall to get their video content rather than stream it.
This is interesting. Never thought about it this way.
I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"
It's interesting. They never recommend it, and often have no idea what it is.
It's interesting. They never recommend it, and often have no idea what it is.
In my experience, just asking them how you might protect a portion of your assets in the case of fiat collapse is sufficient to be met with stammers.
I'm sure there must be some good ones out there somewhere, but it seems all that most of them know is how to pump their own firms' associated funds.
I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"
It's interesting. They never recommend it, and often have no idea what it is.
Today I was at table with four "advisors".
Response #1: "bit what? What is that?"
Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."
Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.
I wonder what his point was when he mentioned "a tall skinny guy", does that add positive ethos to his statement?
I wonder what the "alternative to Bitcoin" is and why its gonna be so "perfect"?
Its probably gonna be some crap coin called something like Geraldo Rivera Coin.
probably a Scam like Paycoin.
but its a shame that these guys dont make some research.
My next door neighbor is a financial manager AND the first to admit that people in finance are the least likely to help you with bitcoins. It's flawed to even think they would be a good choice. This is the reason why Kodak could not see the digital future of photography and BlockBuster thought people would drive to the mall to get their video content rather than stream it.
I do find it weird that a lot of "advisers" still have no clue what Bitcoin is.
just remember. that financial advisors, spend a couple years in business college and then go to financial universities and then have to sit some exam to prove they know how the fiat system works.
they know nothing of real world currency. and only when those FIAT books have taught them
they know nothing of real world currency. and only when those FIAT books have taught them
This, but this sort of stuff can be applied to many careers. Just because they are a financial adviser doesn't make them an expert in all things money and investments. Their knowledge will likely be severely limited to fiat and current banking systems and if so they should know what a corrupt system it is.
To be fair if I was a financial adviser I would advise against bitcoin, not because of any of the reasons stated above and not because I don't believe it or own it myself, just because I would expect the average joe to either lose it or not understand that it is a completely risky investment. If someone showed me that they had a deep understanding of it then I would say yeah sure put some into it.
this topic is turning into an 'englishman, scotsman and irishman meet at a bar joke'
the irishman says 'ah, int it dat currency used for drugs'
the scotsman says 'bit-what'
the englishman says 'i know someone thats gonna make a mint out of it'
To be fair if I was a financial adviser I would advise against bitcoin, not because of any of the reasons stated above and not because I don't believe it or own it myself, just because I would expect the average joe to either lose it or not understand that it is a completely risky investment. If someone showed me that they had a deep understanding of it then I would say yeah sure put some into it.
Was pretty obvious what it was all about. These guys prey on people with zero interest or zero knowledge just trying to get on with their lives and keep hold of their money for retirement or w/e.
Sounds like altcoin pushers to me 
I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"
It's interesting. They never recommend it, and often have no idea what it is.
Today I was at table with four "advisors".
Response #1: "bit what? What is that?"
Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."
Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.
LOL @ response #2. What do you think many drug dealers and gangs use to buy guns, drugs, and other "bad stuff"?
I'm pretty sure they use FIAT (USD, EUR...etc).
No wonder they never benefitted from utilizing bitcoin, they can't even see the difference and glaring similarities bad things are bought with USD etc.
This stuff makes me laugh.
These guys are clueless, but they have their own agenda. I remember the one I saw.
Me: I'd like to protect my money against inflation
Him: Oh, really, why do you think there will be inflation?
Then immediately tries to set me up with his fund manager so he can earn a big fat referral commission. Was pretty obvious what it was all about. These guys prey on people with zero interest or zero knowledge just trying to get on with their lives and keep hold of their money for retirement or w/e.
That said, there's probably the odd exception but imagine they get scooped up into better jobs pretty quickly.
Me: I'd like to protect my money against inflation
Him: Oh, really, why do you think there will be inflation?
Then immediately tries to set me up with his fund manager so he can earn a big fat referral commission. Was pretty obvious what it was all about. These guys prey on people with zero interest or zero knowledge just trying to get on with their lives and keep hold of their money for retirement or w/e.
That said, there's probably the odd exception but imagine they get scooped up into better jobs pretty quickly.
Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.
Makes no sense. If all the financial systems of the world collapse, then the technology we use (electricity/internet) will probably collapse too.
The most efficient governments of all time (the Romans) could only occupy and govern a third of Europe at their peak. What makes you think any one government would rule the entire world with no technology?
I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"
It's interesting. They never recommend it, and often have no idea what it is.
Today I was at table with four "advisors".
Response #1: "bit what? What is that?"
Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."
Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.
I wonder what his point was when he mentioned "a tall skinny guy", does that add positive ethos to his statement?
I wonder what the "alternative to Bitcoin" is and why its gonna be so "perfect"?
Its probably gonna be some crap coin called something like Geraldo Rivera Coin.
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