The Danger of Condescension

Photo by Nick Fewings on Unsplash

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I’m going to choose my words very carefully here.

In my experience, some advisors are condescending when responding to questions from prospects.

This tendency is more likely when a male advisor is speaking with a female prospect.

Here’s an extract from an e-mail I received from a reader. It’s illustrative of the problem:

I have enough money that I would qualify for an advisor through Vanguard, but the last one I talked to was condescending about my choice of index funds. He then told me that I needed to have some of my bonds in the international bond market. He also said that I needed to hold the bonds in the IRA area of my portfolio rather than in the non-IRA area. All of which left me feeling confused.

Let’s unpack the issues raised by her experience.