Boy howdy, simply bananas, isn't it?!🍌
An older friend of mine told me his stock brokerage firm has been charging him 1% of his holdings each year to manage his portfolio. I asked him to find out what they returned in the last 12 months: Answer - 9.22% The S&P 500 return rate in last 12 months? 9.44% So basically he could have just bought an S&P ETF and made the same return and kept more of his money. These brokers are leaches, and their days are numbered.
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