People who work in financial services don't have one shred of concern about the well-being of the people they serve. They're only interested in themselves.
In an ideal world, nobody's work would be just about the money. People could pursue excellence in what they do, take pride in achievement, and derive meaning from knowing that their work improved the lives of others.
When you rely on incentives, you undermine virtues. Then when you discover that you actually need people who want to do the right thing, those people don't exist because you've crushed anyone's desire to do the right thing with all these incentives.