Comments on Triaging My Way To Financial Success: The Ultimate Wrap Mutual Fund

Not surprised at all…Working with clients myself I...

2010-03-09T19:29:36.137-05:00

Not surprised at all…Working with clients myself I am amazed how often people don’t ask questions. I had some clients who didn’t understand half of how their investment worked, and had no clue about I was explaining them about the investment opportunities, but were afraid to ask because that makes them weak. I always stretch that investors should ask questions until they understand every detail about their investments. Unfortunately, this is present with insurance products, budgeting, financial plan and etc. Just because some financial sales people use phrases that are simply complicated for the everyday person, you should be comfortable asking until you understand in your own terms. Not understanding…can lead to unbelievable 6% MER

What this speaks to is the clear lack of understan...

2010-03-09T14:43:41.786-05:00

What this speaks to is the clear lack of understanding within the general population of personal finance and what these sorts of issues can mean to a person's financial well-being.

Until society values an education in personal finance and places a priority on this, these sorts of horror stories will abound. There's certainly no incentive on the part of the financial services industry to do this, yet they might just find that servicing an educated consumer, while not likely as lucrative, could well be much easier (and cheaper) to maintain.

I think it's high time that we hold the industry to a higher standard. Short-form prospectuses and offering memoranda filled with ununderstandable legalese does not make the buyer aware; all it does is cover off the legislated requirements.

Guess its important to read the fine print. If I f...

2010-03-08T13:15:51.855-05:00

Guess its important to read the fine print. If I found out I was paying over 6% in MER I'd fire my manager in a heartbeat!

Yikes, that it scary.

2010-03-08T12:31:33.173-05:00

Yikes, that it scary.

Wow, paying someone 3.6% to have someone pick fund...

2010-03-08T09:37:38.891-05:00

Wow, paying someone 3.6% to have someone pick funds for you??? I'd bet that a portfolio of TD e-series Index Funds would crush this portfolio.