Financial Middlemen Can Cost Up to 6%
03/12/2010 0 comments
March12,2010
From Bloomberg Multimedia
Based on a bloomberg report, if you let others manage your money, the fees at various middlemen's layers could cost up to 6%.
Beware the costs of financial middlemen. You may think you're only paying 0.5% to 2% to have other people manage your money, but the multiple layers of financial intermediation that is so prevalent in today's investing world – with one money manager subcontracting to another – can lead to as much as 6% in non-performance-related fees being assessed along the way.
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