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It's an impossible task to convince you. The inherent problem is that you dismiss the premise: If you're an agent of an investment firm, you cannot give financi
by endersshadow 14y ago
It's an impossible task to convince you. The inherent problem is that you dismiss the premise: If you're an agent of an investment firm, you cannot give financial advice in any capacity in the US unless you've passed certain certifications [1][2]. Them's just the breaks. It doesn't matter if it's amateur advice or for profit, the company is put into a very sticky liability situation if you're blogging and posting advice to Facebook.
If you are quick to dismiss the law, then I really don't know what to tell you. The law's the law, and the company's trying to minimize its risk and liability. There are a lot of reasons that these laws came into place, but the fact of the matter is that they exist, and it's a world that you, admittedly, know nothing about.
[1]: https://en.wikipedia.org/wiki/Investment_adviser#United_States https://en.wikipedia.org/wiki/Investment_adviser#United_Stat...
[2]: To clarify, there are situations where you could give advice that would not run afoul of the law. However, the line between that and actions that open your employer up to serious liability issues is very blurry, and so companies take the prudent action and make a blanket, "Don't give anyone anywhere financial advice and most certainly don't tell them to buy anything of ours unless you're paid to do that." The author knew what he was getting into, or at least should have known.