You’ll love this short video comparing Brokers to Fiduciaries. I think it should be made clear that the “brokers as butchers” analogy is not a negative – everyone loves their butcher (I love steak…thus, I love my butcher), instead its an informative comparison that is essentially saying that if all you have is a hammer, everything looks like a nail – or, the butcher has an interest in selling you stuff that makes him money – not what is best for your health. This video leaves out a key component of the argument though – experience and competency. Working with an inexperienced and incompetent Fiduciary is also a recipe for disaster.
Scott Dauenhauer CFP, MSFP, AIF