In 2009, we asked advisors to share their funniest tales in hopes of bringing some levity to the dark days of the financial crisis.
We’re bringing them back on Fridays so you’ll get a few laughs going into the weekend. Here’s our next installment.
Paper training
An advisor who used to work for a mutual fund company got curious when the same older woman called every few weeks asking for 10 copies of the prospectus of a certain fund.
After the third call, he asked if she was a member of an investment club and why she had so much interest in this particular fund. The caller confessed she didn’t read the prospectuses, but they fit perfectly into the bottom of her birdcage.
“She added that she preferred our prospectuses to the other fund company that she had used in the past, since they started to print theirs on glossy paper,” the advisor quips.
It just proves what advisors have known all along: Clients never actually read prospectuses.
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Read last week’s Friday Funnies