Professional quandaries for advisers

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Professional quandaries for advisers

Published: 18/12/2011 at 03:19 AM
Newspaper section: Spectrum

We are all aware that the financial advice industry has a bad reputation, especially in countries like Thailand where there are many unqualified, inexperienced and unethical "advisers" operating.

Some advisers take their duties very seriously, operating with the highest integrity and offering the best advice they can. This relatively small number faces difficult odds in Thailand because the so-called competition offers solutions that are nothing like what they are pumped up to be. This can put the real professionals in a difficult position.

That is difficult enough to deal with, but matters are further complicated when there are internal conflicts within the global offshore industry itself. Such a situation arose recently and is proving challenging to say the least for the true professionals in the industry.

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About the author

: Writer: Andrew Wood; Position: Writer

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paulren
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Discussion 2 : 20/12/2011 at 09:41 AM2
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A real issue with all such financial advisors is that they properly disclose what they earn in commissions when recommending this or that fund. To many hold themselves out to be unbiased and objective but then go on to advocate a high commission product vs. alternatives which may be more competitive as viewed from the investor view point. Also, often they just bad mouth individual stock investing and scare people away from this -as with this alternative they can't earn any commissions on the fund products they sell.
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advisor
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Discussion 1 : 19/12/2011 at 12:16 AM1
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Interesting article, and a good take on the situation.

...and yes, good advisors are a scarce as hens teeth. Some brilliant product sales people out there, no doubt, some even making more than a half decent wage for that matter, but man...the cowboys out there sure do make it tough !
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Professional quandaries for advisers | Bangkok Post: news