One thing is for sure, the financial sector needs to re-examine and restructure the definition of a securities broker in the United States. It is well know that if you look in any big investment firm or bank you will see something of the words "Its risky, your fault."
But...Does licensing not mean you are liable for your work? Since when its normal that people receive licenses so that they can no longer be liable for what they do? Wait, its one of the most important sectors of our country too? You mean Pension funds? 401k? Savings account? Ran by a system that demands autonomy?
We drag a Retail Trader to court TRADING even though he has been posting his intensive research on 4 hour YouTube videos. And that was just a small portal giving us a small glimpse of what is going on.
Retail Traders are seen by brokers as an unregulated casino, and rightfully so.
The years that you and I- and the ones before us- blindly thrown our money in the market, so they build the system that looks like the system. Now for the average person, it typically takes only once for the market to humble them and give it to the "Expert".
Those "Experts" understand how stretch your expectation of the money with the money you receive over time all while capitalizing on your equity in amounts so massive in ratio due to data my 11 year old understands how to digest I just had to show her once.
No, I am not saying that every broker is like this not. But here is a funny number, 85% of self-directed broker's clients are negative at any given time. If brokers had their clients well being in mind, if they cared, if they maybe...made their money via profit share...then maybe I can understand where this "License" has been useful and not in fact a major cause to many financial meltdowns that happened in my opinion.
And it is true, the more you know, the more you wish you did not. But there is a way, and that is for people to take back their power through knowledge. I don't think I have been more confident than this but hear me Wallstreet, retail traders are coming. Your edge is 1990s internet archives and your system is designed by crooks thinking that the technology will not be so easily available to the public because they are so special (Specially narcissistic).
And while the buck gets passed, the world still moves forward.
Fast forward now, I am seeing Intuitions retaining regular everyday retail traders to manage portion of their capital in some loop hole all while YOU the client are not aware of it. Do you think their contract gives the retail trader the same immunity? Of course not silly, no license.
I have met Traders who created their own trading software that trade for them and generates more income for them than their past careers combined. And they did it with a lot of hard work. Each successful Retail Trader will tell you that they were discouraged by everything around them every step of the way, including the system that they either realized was rigged and saw it as a challenge or honestly had no choice.
They called us Dumb Money and they are right, seeing the same people making different decisions can make you assume that. But again, is it not the brokers who should ensure the best possibly for their clients actions? And then you call yourself Robinhood....and I think iv had it.
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