An insult to their intelligence?
Not really. Since when a 16 years old as clever as it could be, could have the basic knowledegments to make right choices, in a very very specific business which "can" lead to some deals representing huge amount of money in involving many people who have always been invloved for a living in dealing girls and contracts.
That's not just for modelling, it is also true for sport, music, or any field where natural skill or talent can sometimes very young to bring very serious money. No teenagers, no family has natural knowledegement to manage that well, the only clever thing to do, is to choose the right agent, after, best thing is to concentrate on work, to manage at best the evolution and the money, it os for people who has experience to do it.
I not gonna put names here, but i could, or from first hand experience from me, or from cases that i know in details well enough, to put just in taking the last 3 years, at least 10 girls, who started quickly to book some majors shows or some very good edito, and who just messed up the things, in trying to be "more clever" than their managers...