I worked at a major private bank once in tech and we had a presentation from the client advisor funds sales guy. He did a big presentation and then ended it wit

I worked at a major private bank once in tech and we had a presentation from the client advisor funds sales guy. He did a big presentation and then ended it with "But that's just what we tell the clients. You should just buy index trackers." I was never sure if that was because the clients needed more sophistication, or because there was more money in it for the bank.