@kaiti As is my understanding they can’t discuss it, but assuming you’re right there’s no point for them.
Nobody who works for any company would advertise for another company’s service. Should contractors start recommending other contractors that are cheaper? Should Safeway workers mention that wal mart is cheaper and will price match so don’t come here? Is a Best Buy employee going to tell you when something is cheaper on amazon? Will the cable companies just tell me to cancel and get Netflix?
Their job is to do a service and help improve the clients finances using their companies products and not another companies products. A key piece of mutual funds is that you’re getting the in person advice and planning, where if this person didn’t exist a customer might keep everything in HISA or go all-in on a Nasdaq etf because they have no idea what to do.
Not to mention that any advisor that advocated for ETFs would just be fired and replaced with someone who actually does work for the company.
The only way to fix this is continuous education like what questrade is doing with their commercials. And in the mean time if someone doesn’t know their options and needs help or someone prefers to meet with a person over listening to the internet they can go to the bank.
I don’t own any mutual funds myself but I can certainly see their place in the banking system.