Customers are so loyal and trust the bank implicitly, and is unfortunate for the millions that have received advice on their IRA in a bank for the following five reasons.
- Investment advice at a bank is usually not from a “bank employee”, but rather from a sales person from an affiliated company.
- Overselling of products
- Using the Bank’s own product at your expense.
- Annuity sales
- Investment management fee limits for RIA services in bank branches, are far above the national average.