Most people "rail" on financial advisers because they act in a position of a fiduciary, but are not fiduciaries, not even the CFP's. They are the only profession in this position. It is the ultimate caveat emptor that people have to deal with, and as such, warrants a lot of warnings.
And since profits can be as high as the 100k's for a few hours of work (e.g., the $10M customer), the tactics employed are often on par or worse than those used by used car salesmen, and the profits are larger, so there is more incentive to do it.
I think most of the complaining would go away, even at the crazy prices FA's generally charge, if there was some sort of serious accountability involved, like other professions in positions of trust must face.
And since profits can be as high as the 100k's for a few hours of work (e.g., the $10M customer), the tactics employed are often on par or worse than those used by used car salesmen, and the profits are larger, so there is more incentive to do it.
I think most of the complaining would go away, even at the crazy prices FA's generally charge, if there was some sort of serious accountability involved, like other professions in positions of trust must face.