David HirschfeldFounder & CEO, Tekyz Inc. · Founder & CEO at Tekyz Corp | Software Startup Acceleration, AI Experts, Workflow Automation, Board

Wall Street told us to diversify… But it cost my clients millions

27 Nov 2025 · 1 min

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A Wall Street advisor realized the industry profits from pushing clients into mutual funds and bond funds instead of letting them hold individual stocks. When he compared what his clients originally owned to what they held after being told to diversify, the original stocks would have made them millions more.

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And we were instructed as good corporate employees to sell their positions, diversify because of risk, and put them in packaged products like mutual funds, investment trusts, bond funds, all that stuff, manage money. And being an insider on Wall Street, I learned very quickly that the industry is set up to make money off of people, not for people. So it opened my eyes. And one day I sat down and ran the numbers, and I looked at my clients' holdings when they first came to the firm, and I could see very quickly that if they had just held their stocks, their performance would've been far better than selling them and buying them into packaged products.