Financial plans merely trying to suit clients’ best interests
These are troubled times, and one should be wary of financial institutions with high dose of saccharine. One has to keep the future in perspective. General plans being tailor-made to suit clients’ interests may have found anti-immunity levels and can back-fire.
For instance, a client is delighted to hear that his interest rates have been curtailed. This however does have its implications in the unstable condition of inflation at the moment. Thus, when the situation comes in control, there will be a spiraling of rates and the same investor will be caught.
Another is when an investor is told to choose between flat rates and reducing rates. Obviously, the advisor has better knowledge of impending future and may influence the investor wrongly under the guise of suiting his interest. Thus, it is preferable to check out details from a couple of banks or rival institutions, before stopping on a final destination.
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