Financial service providers generally have explicitly-defined financial products and services which they offer to their clients. Their profitability is largely dependent on volume rather than milking each and every client for every bit of money they can get out of them through service fees, but some people naturally benefit more than others from the use of the exact same services.
To ensure it always works out to your advantage rather than to your detriment however, all it really takes is getting the basics right. This spreads beyond the financial sector and perhaps applies to every area of our lives. If you focus on getting the basics right and understanding the fundamentals, you’ll always be in to benefit more than someone who isn’t quite up to speed with those core fundamentals.
We’ll focus our attention on an everyday example to drive the point home, zooming into the horse racing industry. If you took the time to go through a howto.racing guide for instance and you equipped yourself with a basic understanding of how betting on horses works and how the whole industry around betting on horses works, you would be in for a whole new world of opportunities which were beyond your field of view just because you previously lacked some basic knowledge which doesn’t take too much time and effort to acquire.
Consequently, you could attend a horseracing event and wonder just why one spectator who clearly lost their money betting on a losing horse isn’t pulling their hair out in worry like some of the others who also lost. This specific bettor may have some basic knowledge surrounding the entire industry and so they could perhaps have hedged their bet with an investment in the industry as a whole, like perhaps funding the training of bunch of race horses or something along those lines.
If we take things right back to the financial services sector, simply reading through that long, long document you get given to sign when you take up a new service is what it entails to get to grips with that knowledge which could put you at an advantage. The fact that “nobody” reads all those terms and conditions is perhaps the reason why many consumers miss out on a whole lot of benefits which are otherwise well within their reach. If only they took the time to cover all their bases in terms of getting the basics right.