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URL:  http://boards.fool.com/if-you-have-a-managed-account-you-will-probably-15799083.aspx

Subject:  Re: Retirement brokerage account Date:  9/24/2001  10:44 AM
Author:  pauleckler Number:  31966 of 75335

If you have a managed account, you will probably have to pay a management fee in addition to commissions. However, I have heard major brokers advertise fixed price accounts which presumably includes brokerage fees. One price to manage your money for the year.

The system you describe in which someone else manages your money is very contrary to the Foolish concepts. Fools want to learn enough to manage their own money. Certainly excess transactions are a possibility. So clearly you must select a manager very carefully. This person must be very good and extremely trustworthy. (Wonder why he works for a living?)

I do know some people who have managed accounts. I suspect they are not much more than customized mutual funds. They speak of frequent discussions with the manager to decide whether to buy or sell a given security. It works. You get personal attention. But you must make the right choices and sometimes quickly. Of course the personal attention increases costs.

Most would be better off selecting a mutual fund for their core investment.
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