‘Stock Jockeys’ Can’t Help Serious Investors

Recent revelations that Wells Fargo sales teams created up to 3.5 million fake bank and credit accounts as they struggled to meet what the company now describes as “unrealistic quotas” have, once again highlighted how high-pressure financial services firms often fail to put clients first. The Wells Fargo scandal — originally thought to encompass 2.1 million fake accounts, a number that climbed higher as subsequent audits found more — prompted an apology from the company’s chief executive officer and a sharp rebuke from Senator Elizabeth Warren (D-MA), a long-time Wells Fargo critic.

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