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I don't want to sound negative, really. It's a great tragedy. But when you are a wealth advisor, one of your jobs is to inform your clients about the inherent

I don't want to sound negative, really. It's a great tragedy. But when you are a wealth advisor, one of your jobs is to inform your clients about the inherent risk of all forms of investments you deal with. As for cryptocurrencies, your duty is to tell your clients all their money can evaporate in a second and they won't be able to do anything about it. If they don't like that, they can use other forms of investments. In my country it's even regulated: the client needs to sign a statement they were informed about it and they accept this risk. So no reason to commit a suicide because it's not your problem in the slightest.

ipython 4y ago
If he invested his clients money in FTX, it’s certainly possible he put a lot of his own money into it as well, and lost it all.
- hdjjhhvvhga 4y ago
  Yes, I assume this is what actually happened. But unless it was a borrowed money, again this is not a reason to commit suicide. You can always start from zero and have a more or less normal life. If it was borrowed money, well, that person shouldn't be a wealth advisor.
spywaregorilla 4y ago
Unless of course you were basically bandwagoning on it as well and telling your clients it was a great idea with little risk. edit: this came off as implying suicide was reasonable in such circumstances. Not intended to go that far.
- sethd 4y ago
  > telling your clients it was a great idea with little risk. Or even worse: Telling your clients they are invested in something else with a completely different risk profile when they were actually exposed to this.
SirSourdough 4y ago
Sure, as long as your emotions are driven only by the contracts you sign. People sign a waiver accepting the risk when they go whitewater rafting, but that doesn’t stop it from being a potentially life-altering traumatic experience for a rafting guide when a kid falls out and drowns under the raft. Likewise, if you care about your client’s financial well-being as a wealth advisor, and you make a choice that destroys years of your client’s savings, retirement, etc. it would be understandable to feel distraught about that.

ipython 4y ago

If he invested his clients money in FTX, it’s certainly possible he put a lot of his own money into it as well, and lost it all.

hdjjhhvvhga 4y ago
Yes, I assume this is what actually happened. But unless it was a borrowed money, again this is not a reason to commit suicide. You can always start from zero and have a more or less normal life. If it was borrowed money, well, that person shouldn't be a wealth advisor.

spywaregorilla 4y ago

Unless of course you were basically bandwagoning on it as well and telling your clients it was a great idea with little risk. edit: this came off as implying suicide was reasonable in such circumstances. Not intended to go that far.

sethd 4y ago
> telling your clients it was a great idea with little risk. Or even worse: Telling your clients they are invested in something else with a completely different risk profile when they were actually exposed to this.

SirSourdough 4y ago

Sure, as long as your emotions are driven only by the contracts you sign. People sign a waiver accepting the risk when they go whitewater rafting, but that doesn’t stop it from being a potentially life-altering traumatic experience for a rafting guide when a kid falls out and drowns under the raft. Likewise, if you care about your client’s financial well-being as a wealth advisor, and you make a choice that destroys years of your client’s savings, retirement, etc. it would be understandable to feel distraught about that.