I Am So Tired of "Advisors" Pitching Products!

In today's financial services landscape, many advisors still prioritize selling products over providing personalized, client-centered advice. While there are professionals who genuinely prioritize their clients' long-term financial well-being, the unfortunate reality is that some are incentivized to recommend certain products that may not always align with the client's true needs.

Consider this real-life example: a recent widow walked into her brokerage firm simply to update her accounts. Instead of having a conversation about her new financial reality—coping with the loss of a spouse, potentially reassessing her income needs, and considering her long-term goals—the advisor immediately launched into a discussion about annuities and direct indexing for her stock allocation. These are sophisticated, sometimes beneficial financial tools, but were they truly necessary or in her best interest?

When her son-in-law, my client, called me, he wanted to know if these recommendations sounded appropriate. After reviewing her situation, it became clear that she didn’t need complicated products. What she needed was stability, simplicity, and liquidity. Given her low tax bracket, minimizing taxes wasn’t a high priority. Instead of direct indexing—which would have burdened her with managing a portfolio of 250+ individual stocks—or locking up her money in an annuity, a simple CD ladder provided a better total return, while keeping her funds accessible. Most importantly, it was a strategy she understood and felt comfortable with, something the advisor hadn’t considered.

This situation raises an important question: Was the advisor trying to meet her needs, or was he more concerned with pitching products to meet his own goals? On paper, the annuity and direct indexing could be justified, but they weren’t right for her.

This example is not an isolated one. All too often, financial advisors default to selling products that generate commissions or follow the latest investment trends without truly understanding their clients’ goals, comfort levels, or unique circumstances. A personalized financial strategy, especially for someone like a widow who is navigating a life transition, should involve deep listening, empathy, and advice tailored to her specific situation—not a pre-packaged financial solution.

The real value of financial advice comes from designing a strategy that fits the client’s life, not from selling a product to hit a sales target. If we, as advisors, fail to ask the right questions and listen to what clients truly want, we’re doing them a disservice.

In the end, it’s clear that this widow didn’t need an annuity or a complicated stock allocation strategy. She needed peace of mind and financial security, and that’s exactly what we delivered. So, was the advisor there to help her, or to push a product? I’ll let you decide.