> It seems pretty preposterous to me that people could be surprised by finding out they have shady offshore bank accounts and what not.
I wonder about this. Complexity increases fees, so it's not difficult to imagine that people are willing to offload their finances to advisors, who then use overcomplicated tax avoidance strategies to increase their slice of the pie, as well as lock their customers into their services as much as possible.
It wasn't too long ago that we had a financial crisis caused, in part, by financial products that were too complex to price or analyze for proper risk mitigation.
I wonder about this. Complexity increases fees, so it's not difficult to imagine that people are willing to offload their finances to advisors, who then use overcomplicated tax avoidance strategies to increase their slice of the pie, as well as lock their customers into their services as much as possible.
It wasn't too long ago that we had a financial crisis caused, in part, by financial products that were too complex to price or analyze for proper risk mitigation.