How can I avoid being taken advantage of in dealing with financial services companies?
The first rule is to "get it in writing". Making claims against big financial institutions is far easier if you have a "paper trail" comparable to theirs. Otherwise it is essentially your word against theirs, and they have their paper that helps them prove their case, and all you have is your word.
Some financial services companies are scrupulously honest. If one of such a company’s employees made a mistake, or said something incorrect that you relied on, or there was an ambiguity, as a customer – especially if you have a long established relationship – you will be readily given the benefit of the doubt. (If you can find one of those companies, our advice is to start dealing with it, even if its prices are a bit higher, and hope a big, impersonal and greedy company does not acquire it.)
Some financial service companies are likely to take the approach that the customer is always wrong and it is your fault and if you don’t like it.
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