Why is it problematic if a bank recommends one of their own funds to me?
Banks earn more from their own products than they do from third-party products. Therefore, securities accounts frequently contain a large amount of banks’ own investment funds. It is often the case, however, that these funds are only average and perform far worse than the best funds in the same category. Independent investment advisors and asset managers such as VZ are not bound by any banks and their corresponding investment policies that are weighted more towards their own interests than those of their customers. They only recommend products which perform well in an objective selection process and are the most cost-effective in their category.