‘I feel duped’: Why bank employees with impressive but misleading titles could cost you big time.

close up photo of man wearing black suit jacket doing thumbs up gesture
 Most bank “advisors” are nothing but salespersons

Mike Black says he feels “completely betrayed” after investing almost $1 million with the help of an RBC Dominion Securities “vice-president” who he later learned is only licensed as a salesperson.

Most financial professionals in Canada are licensed as salespeople with no fiduciary duty to clients. Most bank “Advisors” (not the same as Financial Advisers believe it or not) are basically salespeople with little training who are rewarded for selling over priced bank mutual funds.

Read the full CBC story here:

I feel duped: CBC

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