A short YouTube monologue (creator: Matan Hazanov) arguing that deep information asymmetries in financial services leave consumers consistently disadvantaged. The speaker describes the consultant’s role as revealing missing information and more efficient alternatives — widening clients' aperture to save money and empower better decisions.
Chapters
In any market where there's a. An asymmetry between the amount of information that the buyer that the seller has versus the amount of information the buyer has, this the consumer will be consistently taken advantage of in that circumstance. In financial services, financial markets, especially high finance, there is a profound asymmetry of information. And on top of that sort of opacity around the structural execution on that information. So. And I quickly realized that all I had to do, I didn't actually have to convince anybody. I just had to get the information and help people understand what it was that they were missing, what it was that they didn't know. And the second you show people, oh, by the way, you're leaving all of this money on the table, here's a more efficient way for you to do the exact same thing you're doing. And if it's a half a percent of savings for, you know, for the families we're dealing with, it's millions of dollars. And. And then, oh, by the way, there's a better alternative to what you're doing. And here's what it is. And I don't have a dog in the fight. Whether you do it or don't. Because you're consultant. Because I'm a consultant. Right. So when all of a sudden people, what you do is you widen their aperture and you present on a silver platter the information that they themselves so desperately need and want. They just don't know where to get it or how to access it. All of a sudden people are like, oh, this is great. I want you in my corner. Sit next to me as we continue on this journey. So really, again, the thought of how do I get somebody to trust me? Never crossed my mind. But the entire Waltzenschrung, the entire sort of ethos of what we're trying to do is empower people and help them make the best decisions that they can make. And people get that. They feel that.