Asset Management Fees: Main Street Investors Force Big Changes on Wall Street
Filed under: Investing, Investing Basics, Market News
Historically, the asset management industry has been merely an easy way for money managers to get rich at your expense.
Even today, 401(k) fees continue to rob us of $60 billion each year — forcing us to work longer and save more.
Former Sen. Peter Fitzgerald declared the mutual fund industry “the world’s largest skimming operation.” (A completely legal one, at that.) And Vanguard founder John Bogle argues that “beating the stock and bond markets is a zero-sum game before the intermediation…
Asset Management Fees: Main Street Investors Force Big Changes on Wall Street originally appeared on DailyFinance.com on 2012-10-25T12:36:00Z.
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