Remember Gordon Gekko’s famous speech in the 1987 movie, “Wall Street?” “The point is,” he said, “that greed…is good. (It) clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms…has marked the upward surge of mankind.”
Did you buy into that nonsense back then? If so, have multiple market bubbles and crashes in the intervening 25 years changed your mind? Possibly. But there’s one thing I do know for certain: Greed is definitely not good for financial advisors. Here’s why.
The ultimate trust destroyer