Thank you for this comment. Bad way to start, but I understood your point after reading the whole thing.
Keep in mind I’m the first person to agree with you when you say “not everyone can or will take time and effort to manage their own affairs.”
Rest assured, those people probably aren’t taking the time to read my blog.
I also agree that people like Madoff or Belfort tarnish the reputation of the good guys (this happens in every industry). But I wasn’t “tarring every financial advisor with my brush unfairly,” I was simply showing the worst-case scenario so people know how bad can bad be.
There are many early retirees who tell people not to trust financial advisors at all. I’m not one of them (in fact I said be skeptical AND I recommended a financial advisor for people with too many assets).
However, if you’re in your early 20’s, starting your career, with only a car attached to your name, you do not need a financial advisor.
Why? Because those fees are not worth it.
Besides, you say “advisors can and do make measurable and meaningful contributions to people’s financial and personal futures”. This is probably true. Maybe you’re one of them. But I think even you will agree the vast majority of advisors aren’t fulfilling that role. And I’m not the only one saying it, it’s become a caricature by now.