Financial advisory firms
Advertisements
Why are so many financial advisory firms hiring so aggressively at the moment? Go to any job or internship website and they continuously spam everywhere.
Is it some kind of MLM or Ponzi scheme? If so why is there not much regulation in this field?
Also they claim to be making millions every year in the industry and have overseas trips every few months.
How is this industry so profitable?
Advertisements
Here are what netizens think
- Don’t believe everything you see on the Internet lah. as with all social media, you only see the vocal minority trumpeting their every success. To think that is representative of everyone in the industry is simply naive.
- You get referral fees for grabbing new agents plus you get to scam people into investing 100k at 5% fees to yourself without needing to deliver any performance. Not illegal, govt not gonna do anything.
Same thing as “beauty packages” but much higher quantum because people invest their life savings. The firm itself makes money via loans/investment in shares - Many of these financial firms earn through fees, not the actual investment. Their clients take all the risk, the firms take all the profit.
- Cos university semesters are ending soon, influx of fresh hungry grads who may not have found a job yet.
- It all boils down to gambling at the end of the day. High risk high reward. Everyone wants to be the one that wins and not the rest that loses.