Investment advisers often show stupidity that goes far beyond investment risk, when they boast of their advantages on behalf of clients.
Because no one with a modicum of investment intelligence should have to rely on an investment adviser.
Example: Paying an adviser 11⁄2 to 2% or more of your assets as a minimum charge can represent as much as 15%, 20% and much more of your annual investment income. That’s outright foolish; you will be receiving little practical advice in return.
Unless you have never heard of unmanaged, indexed mutual funds or ETFS, what sense does it make losing that much of your investment income every year to an adviser who’s of little help? (See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)
No comments:
Post a Comment