Thank god in Australia we have a legal distinction between money coaching and financial advisors. In the US they don't , and they have people like Dave Ramsay, who is a good money coach, but is allowed to use that fact to give financial advice. Giving such advice that actively manage funds are superior to index funds and that retirees can safely withdraw 8% per year of their savings in retirement completely being ignorant of the existence of sequence of return risk and the broader issue of investing.
Thank god in Australia we have a legal distinction between money coaching and financial advisors. In the US they don't , and they have people like Dave Ramsay, who is a good money coach, but is allowed to use that fact to give financial advice. Giving such advice that actively manage funds are superior to index funds and that retirees can safely withdraw 8% per year of their savings in retirement completely being ignorant of the existence of sequence of return risk and the broader issue of investing.