Please provide the source for your 80% of products placed and your less than 2% are qualified. If these are simply numbers that you picked out of the air then I guess that's a tactic that can be applied to a whole bunch of topics.
thanks for your good question. The source for the 80% of products sold at highest cost to client and highest comp to salesman (under guise of advice) is from mutual fund sales stats (over last decade or so) held at various places like the MFDA web site (for one). Further details on this manner of taking advantage of the position of a trusted advisor and using it to line ones own pockets more deeply can be found at the NASD web site under fraud alerts and scams, title, Class B shares.
As far as the 2% of Canadians calling themselves the wrong title, that was purely a guess, since in my two decades in the industry I have yet to meet a CFA in the role of a salesperson. My understanding of section 34 of the Securities Act requires a CFA prior to a person being allowed to register as an advisor.
I could be wrong, but that's the way I see it.
thanks for the educational debate guys
advocate