Not long ago, sound financial advice was seen as the purview of the wealthy. This was because high-net worth (HNW) individuals constituted the most profitable segment for financial institutions, and thus advice and products were tailored accordingly. This created the perception that advice was reserved for the wealthy. Retail investors had been historically underserved, often left to go it alone when it came to pursuing their financial goals. This typically meant turning to robo-advice or basic financial calculators.
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