10 financial advisers fined for anti-competitive behaviour

[corydorus]

Disappointing to know that even the FA industry cannot be trusted.
Another reason why one MUST learn to invest yourself.

Many Sharks out there who just want to fatten their own pocket on the expense on their customers in the name of helping them.


10 financial advisers fined for anti-competitive behaviour
http://www.channelnewsasia.com/news/busi...11160.html

[Porkbelly]

How much do Financial Advisors charge for their services?
I have never sought their services, perhaps some
buddies here can share their experiences?

Are charges time based?
with separate charges for off the shelf products?

If they are transparent about professional fees, commissions,
then it should create trust.
When commisions, fees, rates are vague, people will see it as

-a con /scam
or
-too embarrased about it.. as the fees do not justify the task.

[corydorus]

I think the issue is the anti-competitive behaviour. Eg. Ganging up to create base line fees or commission higher.
And then tell customers they are industry norm rates.