In Canada, it's time to rename Financial Advisors to Financial Sales Representatives

I'm not sure how these types of things work in other jurisdictions, but when an individual sells a product that is, or may be, unsolicited and carries a hidden fee/commission structure - is that an advisor?

I have a hard time understanding why I must repeat myself so many times when transferring money to my RRSP account. Somehow explaining that I am satisfied with holding cash in my RRSP does not resonate well with those trained to sell mutual funds. Some questions I would find useful in diffusing such situations if I were to entertain them:


"What percentage of your portfolio is this fund?" 

"How is the fund protected in a broad market decline?"

"What are the top 10 holdings within this fund?"

"If there are thousands of Canadian mutual funds, why are all of the funds you have paraded all managed by your bank?"  - "They must be the best, eh?"


I have no problem with the bank deploying salespeople, strategically, to process simple transactions in the hopes of up-selling some of their shite. Just rename these individuals to sales reps. The title advisor suggests that there may be a hint of impartiality.


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