Fiduciary Controversy: Capitalism At Work
Given your definition of the fiduciary controversy as “Too many finance professionals sell people what they want rather than selling people what they need,” how would you respond to the notion that this problem is inherent to free market capitalism?
That statement could be made about almost any industry: there are too many greedy salesmen willing to sell people what they want, rather than what the people might need. If a person wants to buy a used car at a horrible value off the used car lot, they are free to do so. But if a person wants to dig down into the details and find the best value car available to them, they are free to do that as well.
At the end of the day, free market capitalism kind of guarantees people the freedom to be stupid with their money if they want to be.
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