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- Manlobbi
Halls of Shrewd'm / US Policy❤
No. of Recommendations: 4
Before the opening bell, the U.S. Bureau of Labor Statistics said headline PPI for April came in at +0.5% M/M, above the estimated figure of +0.3%.
"A primary reason for the beat in April PPI was a sharp increase in portfolio management and investment advice, up roughly 4%. This will add 0.06ppts to core PCE inflation in April.
https://seekingalpha.com/news/4105941-stock-market...Not the type of inflation the denizens of this Board would experience.
No. of Recommendations: 9
I’m always amazed at what some of my friends pay for advice and management. I say nothing
Many just want their hands held
No. of Recommendations: 8
I’m always amazed at what some of my friends pay for advice and management. I say nothing
I've learned to be quiet, too. I tried, didn't go well.
Many just want their hands held
This is true, and can be a valuable service, but our friends/family could get that from Vanguard or a robo-advisor for 0.3% or so.
I found an investment report from a Financial Advisor among my dad's papers. The guy was advising him to buy the "Investec FTSE 100 Enhanced Kick Out Plan 94" (WTH is that?), along with a "reduced initial advisor charge of 1.5% (normally 3%)". Dad didn't go for this particular one.
No. of Recommendations: 29
I took over the account of my mother in law when I saw the huge fees she was paying for a financial advisor. I fired the thief, and put her in a Vanguard managed account which was great for low fees, a trusted advisor, and a layer of separation from me. I was worried the heirs would assume something nefarious on my part but when she passed away the numbers made me a clear hero.
2% fees on a S&P index fund. $1500 to prepare a pie chart of allocations. It ought to be illegal to treat a little old lady like that.
No. of Recommendations: 1
"2% fees on a S&P index fund. $1500 to prepare a pie chart of allocations. It ought to be illegal to treat a little old lady like that."
And sometimes it's even worse: like a 2% fee on an underperforming, tax inefficient Active Fund which layers on another 1% fee! Terrible.
