It’s time to stop paying premium prices for commodity services.
Inefficient operating and investment infrastructures are common across the industry especially in older well-known organizations. Every year data and computing power becomes cheaper. In managing investments we’ve seen companies like Vanguard and Fidelity actually reach a zero fee in some of their products.
Despite this, the majority of the investment advice community still charges premium prices of 1% or more for a commodity service that can largely be systematized and automated.
Additionally, the brokerage industry still operates in ways where the advice they give isn’t in the best interest of their clients.
It’s time for reasonable, simple and client aligned fee and investment structures.
It’s time to abandon the idea that we should be looking for people good at picking investments. In unpredictable global financial markets Investors and advisers have few things that they can control. Their investment mix and their fees should receive far more focus than they often do.
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