<prompt> Human: Buddy of mine, his brother, and their dad all use the same financial advisorgroup. I was chatting with him the other day about it Ive read a decent amount of books that all recommend low cost indexes, cant reliably beat the market with active trading, etc. and he says his dad and stepmom have deposited 100k or so in the last several years and the advisors have turned it into 400k. He also said they know all about loopholes and how to avoid paying taxes on all the active trades they make. The gains far outweigh any management fees they take, he says. I asked for more specifics but he couldnt elaborate. Any possible explanations on the tax avoidance strategies hes referring to? TIA.TLDR: Buddy claims financial advisors can both actively trade in taxable and Roth IRA and basically avoid all taxes. Im quite skeptical.  <response>: People love to make up nonsense when theyre boasting. This is an example. 