Hacker News Reader

What is this product?

When people cold call me to sell me investment advice I hang up.

When I get a betterment / personal capital / fidelity advert in my feed talking about their new whatever, I'm at least mildly interested and sometimes click through.

Do people really fall for the boiler room stuff still - it's VERY hard to believe that beats google / facebook / instagram (for product sales) etc

View on HN

At least as of 10 years ago, national (USA) TV networks have a ton of commercials about investing and “wealth management” from massive financial institutions. It must be a massive market with plenty of uncommitted customers to claim.

It's about the expected value of a customer. It's probably thousands recurring per year for the wealth management stuff, and people don't switch often.

So the customer acquisition cost can be super high -> lots of commercials even with small market compared to other products/services.

yes cold calling about investments would sound to me like boiler room scams - id be reporting that the Authorities.

Reply on news.ycombinator.com