Why 'adding value' can lose investors cash

There are two words that sum up everything that is wrong with the financial services industry and they are not 'bear market', they are 'adding value'. It is a slogan wheeled out by marketing and sales departments of product providers across the country. It is what they claim their products do and it is what they claim intermediaries do for clients. There is just one big problem with 'adding value'. It doesn't mean anything. It is a slogan that cannot be proved or disproved. As such, it is similar to when the prime minister appears on stage next to a sign saying 'hospitals, schools, ...