# Investment business is a scam

## Don't trust financial advisers

Don't trust anyone selling financial products, even if they are endorsed by your employer and especially if:

- the fees are a recurring % of the portfolio ([Compound interests make you rich](smdc))
- they are offering gifts or holidays
- urgent one-time offers needing immediate decision

They are trying to exploit your emotions caused by the fact that [financial markets are random](fa2k).

## Avoid managed financial products

Avoid at all cost actively managed fund, because:

- the recurring fees will eat your interests
- they attract more taxes

Avoid QROPS (offshore pensions) for expats.

:finance: