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Understanding the “Cobbler’s Children are Barefoot” – Syndrome
Staff Reporters
Here is an article by Philip Palaveev recently published in a financial services trade industry magazine.
“Before helping others, put your own oxygen mask first.”
That’s what they say on airplanes when instructing passengers on what to do in an emergency. It makes a lot of sense: If you can’t breathe, you can’t help others.
Personal Issues
Unfortunately, an alarming number of financial advisors suffer from personal financial “issues” that can interfere with their ability to help their clients. Personal financial problems can indeed cloud advisors’ judgment and can prevent FAs from making much needed investments in the practice.
Assessment
According to ME-P Publisher-in-Chief Dr. David E. Marcinko, MBA, a former certified financial planner and financial advisor himself;
“Far too many so-called “Financial Advisors” have no formal business management education and precious little real financial training from sources other than their Broker-Dealers or wire-houses; so this report comes as no surprise. The vast majority of stock-brokers are product sales men and women, period. So – always beware – dear medical colleagues and all readers.”
Conclusion
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Filed under: Career Development, Financial Planning, Op-Editorials | Tagged: BDs, broker-dealers, david marcinko, financial advisors, Philip Palaveev, stock-brokers, wirehouses | 2 Comments »
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