It’s
nothing new. I have been writing for years about the real cost of
investment advisers when you calculate their fees against the actual
returns you get from your investments.
We’re talking 25% or more of
your income every year for information you can gather for yourself
at no cost.
Many advisers are on to more ways to cut into your income. They are coming up with a “portfolio” of ETFs (not necessary at all) to which they may add a fee as high as 2% of assets managed.
By the time these advisers are done with managing clients’ investments, they have taken about half the earnings of those accounts for themselves, each year.
(See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)
Many advisers are on to more ways to cut into your income. They are coming up with a “portfolio” of ETFs (not necessary at all) to which they may add a fee as high as 2% of assets managed.
By the time these advisers are done with managing clients’ investments, they have taken about half the earnings of those accounts for themselves, each year.
(See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)
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