Americans’ Savings Make Wealth Managers Rich

Americans' Savings Make Wealth Managers Rich

There was an interesting and slightly scary article in the Wall Street Journal recently, in which reporter Andrea Fuller tries to find out what fees she’s paying to the financial adviser who manages her money. At long last, after a torturous experience with the company, she finally manages to find out how much she’s paying — 1.4 percent of assets every year, with 0.85 percentage point of that going to the advisers who manage her investments, and 0.55 percentage point to the funds they invest in.

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