Is being a sociopath a job requirement for salesmen these days?

[Will_Repair]

…

[MsRobyn]

@InLucemEdita

I don’t know how you can’t understand this.
A fee based advisor does NOT make money on the sale.
They make money for providing requested assistance and ensuring that their client’s best interests are met.
They make their fee regardless of whether the sale is made or not.
In fact, the most important element is that they may well tell you NOT to make the transaction if it is not in your best interest. They are paid for giving you that VERY valuable advice.

Then it may be of interest to you that the services of a fee-based adviser may be less expensive if handled as separate transactions. And that, under certain circumstances, they may be able to double-dip and collect the fee AND the commission. They need to tell you they’re doing that, but check the paperwork you signed. (These, BTW, are covered in the Series 63 securities exam.)

Generally speaking a commissioned salesperson will NOT tell you if you are paying too much for a product. They will NOT tell you if you can get it cheaper elsewhere. They will NOT tell you the benefits of various products from various vendors.
They will instead try only to sell you their products, and they will try to maximize the amount of money they get from you (again, maximizing that amount may involve stringing the transactions out for as extended a period of time as they can “We want a customer for life!!”).

Why should an Ikea salesperson tell you about Ethan Allen’s furniture? Or, for that matter, why should a Chevy salesperson sell you a Ford? Tell me, Oh Wise One.

No matter what they tell you, their primary goal is to get your money.
They are NOT looking out for your best interests.
If you want someone to do that for you, you need to hire them for a fee, independently so it is clear that they work for YOU.

See what I posted above. And then tell me that your adviser didn’t sell you his services, and that he isn’t interested in taking your money.

Please read “Personal Finance for Dummies” if you don’t understand the difference between a Fee-based advisor and a commissioned salesperson. I did.

Congratulations on your literacy. Then explain why anyone should pay for the services of a fee-based adviser when commission-based reps would be cheaper.

Robin

[InLucemEdita]

@MsRobyn

Then it may be of interest to you that the services of a fee-based adviser may be less expensive if handled as separate transactions. And that, under certain circumstances, they may be able to double-dip and collect the fee AND the commission. They need to tell you they’re doing that, but check the paperwork you signed. (These, BTW, are covered in the Series 63 securities exam.)

Good advice.

@MsRobyn

Why should an Ikea salesperson tell you about Ethan Allen’s furniture? Or, for that matter, why should a Chevy salesperson sell you a Ford?

They shouldn’t necessarily. I don’t think I suggested they should. But a commissioned salesman (or any salesman) who states that they are looking out for a customers best interests should.

@MsRobyn

Tell me, Oh Wise One.

Blow me, Oh Snotty One.

@MsRobyn

See what I posted above. And then tell me that your adviser didn’t sell you his services, and that he isn’t interested in taking your money.

I wouldn’t do any such thing. A fee based advisor also wants to earn money. But the relationship is (or should be) clear. You pay a fee, you get advice on the best product/service/whatever to buy (or not to buy). Their compensation is not dependent on what or if you buy, or how much you pay for the product. They can truly state that they are objectively acting in your best interest…for a fee.

@MsRobyn

Congratulations on your literacy.

You guys sure do have a hard-on for the Dummies books.
I’ve been around my share of intellectual snobs, but many folks recognize that these books are good references for novices in many areas.
I would certainly turn to them again if I need to get good information on a subject quickly.
But, sure, you’re all smarter than the average shmoe.

@MsRobyn

Then explain why anyone should pay for the services of a fee-based adviser when commission-based reps would be cheaper.

I don’t believe commission based reps are cheaper.
They add a transaction cost to many transactions for which they are not needed.
This raises the price for everyone.

[Lust4Life]

I think being a sociopath is totally a qualification for working in a recruitment agency,in the U.K. at least,they make Estate Agents look like honest human beings.