If your doctor prescribes you medication without first asking about
▪Your diet
▪Your sleep
▪Your exercise routine
▪Your water consumption
▪Whether you have any structural issues and stress in your life
You don\’t have a doctor, you have a drug dealer.
Whenever you visit the hospital, there’s a reason why you first start by consulting a doctor who asks some background questions to determine your health status. He then examines you and recommends that you proceed to the laboratory and take some tests.
It’s only after he evaluates the results from the lab that he can do a diagnosis and probably prescribe any drugs.
However, there are still people who take Over the Counter Drugs without a doctors’ prescription.
Recently, there has been an increase in the use of over-the-counter (OTC) drugs. The consumption of these medicines can be unsafe, as incorrect self-diagnosis or the ingestion of inappropriate doses can lead to side effects and the occurrence of adverse reactions and drug–drug interactions. Legal does not mean safe.
It is the same with Financial Advise.
In the investing profession, it is considered ethical to have an investor’s profile before recommending any investment product to them.
An investor profile is an evaluation test that helps the financial advisor evaluate how the investor stands against the factors that one should consider before they make any investment.
”The easiest way to get into financial ruin is to take financial advice that isn’t personalized to your unique investor profile.
Financial advice should be personal and it should be a perfect match to your investor profile. It should take into account your age, your financial goals, and your risk appetite. Your level of income, your current portfolio holdings, your future liquidity needs, your financial responsibilities, and other important factors should be considered before making an investment decision.
Otherwise, you will find yourself taking a painkiller and wondering why it isn’t relieving your stomach upset. You will take financial advice that leads you to financial ruin. For if over-the-counter financial advice is your kind of advice, financial ruin is your kind of misery.”
Even when people add the “Not Investment Advice” caution to their posts, that information is still used to make financial decisions.
https://gichukikahome.com/the-dangers-of-over-the-counter-financial-advice/