No. of Recommendations: 2
Its really hard for some people to disassociate business and relationships. I've tried to politely tell some people they are better off with an index fund or researching stuff online but they usually say he is a good guy and a family friend. (I never push it since it isn't my money and people often have to learn the hardway.)

Not sure why that should matter. And when you are giving away 1% and often much more every year, a lot of people become friendly.

Over at Bogleheads there was a thread where a guy went home to visit his 80+ yr old mother and found out a rep from a big name FA service (I'll leave out the name here) had moved into the neighborhood and was visiting everyone on the guise of being a friendly neighbor. It seems like it wasn't just interested in friends but instead getting people to invest with him including this guy's mother. Fortunately she hadn't gone too far yet.


Rich
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.