BRK's up 40% over the past 4 years.The MSCI World Index is up 47%. You make his point. In a well allocated portfolio why would you pay to have it managed when you can buy the World index for about 1.5% less then you pay for a managed account (1% plus an extra .5% for the yearly expenses in the managed fund). Or as Intercst pointed out, over 4 years, depending on the size of your portfolio, more like 20-30% of your earnings. And that's IF the "manager" doesn't charge you 10-25% immediately extra to put you in a front-loaded fund (I recognize that isn't the advisors who usually post here).Hockeypop
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