John Oliver did a good report on Financial Advisers who are not held to the highest standards and sell their clients products they have no business being in.
John Oliver is a Liberal know-it-all; a prodigy of John "know-it-all" Stewart. However, in this case, he's probably right. Financial advisement is glorified hand-holding. Only track record counts in this business....and they have none!
Financial advisors are salesmen. You don't have to buy what they're selling. But it you do then the fault lies 100% with you, the consumer. Same goes for somebody walking into a Hyundai dealership and buying a wannabe-luxury car (Genesis) to impress your friends at the recommendation of the salesman, when in fact every person in the world knows you're driving a fucking Hyundai. Blame yourself, not the salesman.
The Politics sub is leaking I guess... Then you should listen to him. I looked up "know-it-all" in the Republican dictionary and it says: A knowledgeable person whom we would like to disagree with, but because of his accurate use of facts, we can just sour grape name call. And as you said, (as usually) he was right on the topic...
Yes, they are salesmen, but you have to consider their audience, who are mostly a danger to themselves and others. Advisors do a service, the same as crossing guards do. If you are a helpless toddler, it's best to work with someone or you'll get run over. If you are an adult, you won't need the guard--you just smile and move on. Most people I know are scared to do anything without their advisor, and wouldn't have a clue what to do anyway. Most are better off with an advisor, even if they get raped on the fees. It's better than blowing it in full on college tuition, giving it to some scam recommended by a "friend," or leaving it in T-notes or CDs.