Why are financial firms popping up everywhere?
I was driving recently and listening to a local radio station. In the space of half an hour there were at least four radio ads from financial firms. I got home and opened my mailbox to extract a couple of invitations to dinner seminars from other local financial firms, of which I get about 7 or 8 each and every month. I really believe that any retiree in this area could knock off several hundred dollars of food expense from their budget simply by attending these seminars regularly!
What's up with all these financial firms? Are so many really necessary? Are some better than others? Do they all do the same thing?
We are the most prosperous nation in the history of the world. A constitutional framework of government, and an entrepeneurial spirit has produced the robust economy that benefits us all. With increased wealth, there is a greater need for intelligent decisions regarding that wealth, and I believe that the level of financial literacy is at an all time low. Hence, the rapid explosion of financial "advisors." It's simply supply and demand in action.