Retail Advisory Service is what is known as a Moral Hazard. 

 

You are handing over your hard earned money to people who do not wish to demonstrate their capability in trading the markets. Their research on the markets are taken from the same financial pages joe public read. 

 

Imagine having studied and passed your theory in Aeroplane flying. You have not even been on a simulator and yet once you have passed your theory on the rules and regulations on flying ( not actual flying its'self) you are now qualified to fly a Boeing 747 passenger plane. You don't need to imagine the results of such folly do you? 

 

Well that's how qualified Investment Advisors need to be in order to trade your money. Simply qualify on an Industry multiple choice test, make sure you have not been in trouble before and you are free to trade other peoples money.  

 

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