My real experience ??
About the time I started in 2011, I came across a group in FB (i left FB 7 yrs ago) which focussed on clarifying peoples doubts on financial products etc. It was a pretty decent one untill one day a Professor entered the scene ? (he’s still the same Prof with the same designation at a premier institute even after 13 yrs, as on date). Well, he isn’t a professor of finance or anything related to it ?
Did someone in the financial services industry really rub him on the wrong end? He was forever DIY……….do it yourself…_nothing wrong, if it’s done the right way_as i see it.
I did have some decent yet strong discussions, conversations & arguments with him on many topics in personal money management in the FB forum (for about 3 months), but finally one day….I had to raise my concerns to the admin of the group telling him that the Prof was probably doing great diservice to investors than service….not everyone is capable of handling things by themselves. Not everyone is capable of using the excel sheets depending on him for life? Even if they are, there are better things for them to do in life than focus on just one aspect (though important) of life called investing or insurance
Cut short…..using that group as a start-up platform – i think he teamed up with an industry renowned trainer (if he’s so) who also joined the FB group – started boot camps, then training sessions, blog transforming into website with super complicated excel spreadsheets (which probably still exist), starting up association(s), writing some basic not so original thought content books by teaming with the same trainer etc…
Today, as i visit his website….the same complicated tools exist but added features are these – _Ads & banner ads from insurance companies, Aircover or some weird ads, SME supports, third grade math & other online classes, travel ads, $ price based marketing tool courses, robo advisory tools with massive discounts (as claimed), absurd two wheeler companiy ads, comparison of advisors in the market, weird fiberoptic internet services (again $ based) ??…and I’ve just scratched the surface of the ads featured there. Every link i probably click throws up a different ad probably?
Yes…he turned to be a decent DIY, but maybe for himself as a part time entrepreneur having some extra revenue streams in his life? good for him.
And those 3 months of discussion with him made me learn a lesson which i still follow & share with people…. Avoid the social media discussions, it leads to no where – we lose our focus on what we’re supposed to do.
I don’t know if his drive when starting out was to be where he’s today… If the intent was to help via DIY, then, is there a deviation from there? ??♂️