Financial brokers always claim the client has expert knowledge. Ah, ha, ha, ha, ha!
We were looking at investment information last night and financial companies do their best to be muddy in their transparency. Fund commissions (2-3%) are on one information page, fees paid to the financial rep (0.5 to 0.9 %) on another statement and all the information looks reasonable. After all if we were experts we would do our own investment strategy so we willing to a reasonable fee for management.
If you are interested, the EdX course MichiganX - FIN403x Financial Institutions and Markets is free and the prof puts numbers to the movie "The Big Short". It can help you understand how it financial information fits together and why regulation is so important. After all, a study of over 1.5 million data points showed (nice Canadian) Advisers recommend funds with the best fees paid to them regardless of fund performance.
http://www.cbc.ca/news/canada/british-columbia/financial-advisor-earns-quarter-million-in-commissions-1.4328616
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