Big banks jump on the latest trends with the term “financial inclusion” for the masses. But, is financial inclusion from big banks a myth?
Recent news from Wells Fargo shows quite the opposite of inclusion from Wells Fargo by eliminating revolving lines of credit of users borrowing $3,000 to $100,000. Although this is financial exclusion, can this be seen as a form of “financial empowerment”? Elimination of debt is good but sometimes debt is used to create more wealth and savings which is “financial empowerment“.
What most people forget about is investment advisor accounts and/or brokerage accounts offer margin which can be used as a line of credit. Contact your investment planner today!
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