On 21 May 2013
in
Selecting a good investment advisor,
MsBennet said:
Oxygen says
http://video.pbs.org/video/2365000843
That's an eye opener video! Same conclusion I came to a couple of years ago when Fidelity called me into their office and offered to manage my portfolio and gave me a list of funds. I went home and looked at the funds and noticed some had over 1% fees, and the guy at Fidelity never mentioned the cost once.
Then I discovered that most investment advisers charge 1.5 to 2% fees, and that's on top of the cost of the funds.
I agree now that index funds are the way to go try to follow the principles of Jack Bogle.
http://www.bogleheads.org/wiki/Main_Page
Btw, Fidelity does have the Spartan Total Stock Market index fund, which has low costs, so I invest in that, too.
The guy in this video just couldn't get the JP Morgan people to admit that index funds have been proven over decades to outperform actively managed. They can't admit it because that's their livelihood. They depend on ignorant people.
