Do you really know what your portfolio costs’ you each year?? Most folks don’t have any idea.
Think about it, you wouldn’t buy a flat screen tv or a car or any other large ticket item for that matter without knowing you were getting quality for your money would you??? Then shouldn’t you ask yourself why you don’t know what your life savings is costing you to invest??
I was just meeting with a couple today, that has now just become a client of our firm and after doing some in-depth analysis on their portfolio designed by a different adviser we found their total overall COST (FEES) were 4.5% !!!
This is absolutely ridiculous and unfortunately it happens more often than you would think.
Most folks know they are not going to get FREE advice, but it needs to be clear, fair and fully disclosed.
It is important to fully understand all of your portfolio’s cost’s including hidden charges that may not be required to be shown.