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> No one would bat an eye if a used car salesman put his own personal interest above the interest of his customer? That could be because they expect used car s
by md224 12y ago
> No one would bat an eye if a used car salesman put his own personal interest above the interest of his customer?
That could be because they expect used car salesmen to behave unethically. In that case, their "not batting an eye" would indicate that they don't feel a responsibility to address this injustice, not that the act under consideration is perfectly just by their standards.
> Why should we then be outraged when someone sells you an annuity that isn't the ideal product for you?
Because it strikes us as violating our ethical principles. From my perspective, business should be about providing value for the customer. Taking advantage of people to get their money is terrible, and I would think less of anyone (car salesman or financial planner) who did so.
A good salesman persuades customers to take action that is beneficial to both parties.
- maxcan 12y ago> That could be because they expect used car salesmen to behave unethically. Do you really expect bankers to act ethically?