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Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Finance
If you're a financial advisor who is still giving clients advice based on today's life expectancy and goals, chances are you need to go back to the drawing board."Most of the advice you are offering is fatally flawed, and I would even argue criminally negligent," Ric Edelman, founder and executive chairman of Edelman Financial Services, told attendees at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida, on Wednesday."If you continue to give the advice to your clients that you are currently giving them, you will soon be out of business," Edelman said.Rapid technology advances coupled with changing life plans will fundamentally alter the way we live. And most of the financial plans that advisors come up with for clients are stuck on outdated expectations, said Ed...
Career advice you hear all the time that's actually bunk

Career advice you hear all the time that's actually bunk

Finance
Five steps to ace that job interviewPeople love to give advice. And you're especially likely to get an earful when you're just starting out in your working life. But getting pro tips from everyone from your roommates or parents to your coworkers or bartender can be overwhelming. It turns out that a lot of what you hear, you should just ignore. Research, evidence and the current job market suggests there's better advice to take. "Follow your passion" This go-to advice for inspirational posters and graduation speeches often leaves people spinning their wheels. The suggestion to "follow your passion" depends on two assumptions, says Cal Newport, author of "So Good They Can't Ignore You," a book that challenges the belief that "follow your passion" is good advice. This trope assumes, he say...