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Wealth Management Sins

According to Upton Sinclair , “It is difficult to get a man to understand something when his salary depends upon his not understanding it.” Roman Catholic theology, the deadly sins are the primary feelings or behaviors that inspire further sin. The misaligned incentives of the wealth management industry roughly correspond to those deadly sins, and knowing them is essential to being a wise consumer of financial services. Once you understand what drives the wealth management industry, you can better choose which advisors to work with, evaluate their advice with clear eyes, and push back as necessary. The Wealth sins can be put under: pride, lust , sloth , wrath and greed. Do you think that people who manage wealth are sinners according to what you believe in ?

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