No. of Recommendations: 11
My SIL used to have an IRA managed by an advisor. I took one look at it (she asked me), had her transfer the mutual funds to an online broker, sold them all, and bought Vanguard index ETFs (80% of the total so far). The advisor had bought front-end load funds (I wonder why), with high expense ratios (>1%), and I'd guess high turnover. I created a tracking portfolio of the old funds and the Vanguard gain is over double what the old would have done. Further proof of what her advisor was costing her and this doesn't include any fees he was charging her.
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