The first shot I want to take is about a subject matter I love to ramble on about daily. That would be at the “Financial Advisor”. Now in my occupation I manage money for people and give financial advice my biggest enemy, pet peeve if you want to call it that are financial advisors because they are not a true advisor. They are frauds majority of them. To make an analogy, to real money managers these “advisors” are like bugs at a picnic. They are annoying.
An old fashioned term for these people would be pikers. They are frauds because they lack complete knowledge of financial markets. They are trying to raise assets from people to charge a fee. The firm in which they are employed by tells them what they are to recommend and sell to people. This is usually not best for the client. It might be okay but it’s far from what these people need and deserve. Today it has even gotten worse with insurance being involved. These piker douche bags are out there selling insurance as an investment, which is complete fucking bullshit. It is a tool, not an investment. Some of them are selling disability and health insurance and calling themselves financial advisors. What kind of substance are these tool bags abusing because that my friends is some crazy shit and people need to wake up. The sad part is a lot of these people tout the policy values as assets under management (AUM) to people in an attempt to impress as if they have some kind of tremendous book of business.
The point to this rant, shot, insulting of the average “advisor”, is because people need to be warned and educated about this. These degenerates are out to get your money in their hands because they are being taught crappy high pressure sales tactics to bring money in. If they don’t bring this money in they don’t get paid. They want these premiums, sales charges and then management fee. These slugs only desire to try and be wealthy. They don’t have class, are not cultured and completely uneducated. They think if I get involved on Wall St or investing I will become rich and then I will be cool. They have watched the movie Boiler Room one too many times. When I run into one of these freaks and have a conversation I want to slam them in the face with a sledgehammer. When you start talking real financial information they are lost and most embarrassingly admit they don’t understand you. Bottom line the guy selling you insurance can’t give you tactical active management of your money. Losers end of story.
Have a great day and watch out for these pikers.