Financial services claims misleading
Monday 15 November 2004
Gareth Morgan has made a range of unsupported claims against the financial services industry that are misleading, irresponsible and provide little advice or commentary that might improve investors' knowledge.
By The LandlordMorgan attacks a range of investment and savings options that are broadly described as collective investment vehicles.
Collective vehicles enable investors to pool their savings, which are invested in a range of sectors by a professional fund manager who makes informed decisions with the expertise and research that an individual generally does not have.
Collective investment vehicles give individual investors the benefit of diversification, which reduces the investment risk that a small investor would otherwise find difficult to avoid.
They provide flexibility and convenient avenues for investors, small and large, sophisticated and unsophisticated, to access a wide selection of local and global investment sectors. Morgan's articles do not acknowledge the benefit that customers gain from these features.
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