Well; more than anything else the incentives around financial advice are so terrible that it almost can't be paid for.
The financial advisers are dealing with people who are so bad with money that they don't see problems with spending more than they earn or taking on debt for things they don't need. The incentives for anyone profit motivated is to take their money and move on. No point offering any useful advice; it just cuts into the margins. Ideally, sell the client complicated financial products.
The typical person paying for financial advice is basically putting a sticker on themselves that says "I'll buy anything; try and sell me a bridge!".
The financial advisers are dealing with people who are so bad with money that they don't see problems with spending more than they earn or taking on debt for things they don't need. The incentives for anyone profit motivated is to take their money and move on. No point offering any useful advice; it just cuts into the margins. Ideally, sell the client complicated financial products.
The typical person paying for financial advice is basically putting a sticker on themselves that says "I'll buy anything; try and sell me a bridge!".