Why do otherwise intelligent financial advisors and agents do dumb things? Not sure if we really know the answer to that one but we're taking a stab at it today.
Contrary to what many in the media will say, we don't really believe that most of the bad things that are done by advisors are done to line their pockets with money. No it's generally much less deliberate than that.
What's the number one reason smart advisors do dumb things?
Well, we actually think it's because they don't know any better. There is no training in this industry that focuses on helping a new advisor understand the products fully and how they may fit into an overall plan.
There's lots of training on sales tactics, phone techniques, and overcoming objections but not much else.