You Probably Have No Idea What You Pay Your Financial Advisor In Fees

"Most people have an idea of what they’re being charged for a service, but just like phone bills and bank account statements, there are plenty of hidden or additional charges that go largely unnoticed and might be affecting your bottom line. So as for your investment accounts... the only real way to know is to investigate what’s inside…there may be some surprises." Learn more from Roger Gershman at: http://www.forbes.com/sites/rogergershman/2014/06/03/you-probably-have-no-idea-what-you-pay-your-financial-advisor-in-fees-heres-why/

Podcast: What you need to know about mutual fund fees

"All mutual funds charge fees. The higher the fees you pay while owning a mutual fund, the lower the return you can make from your fund shares. Even a small percentage difference in the fees among funds can add up to a big difference in the dollars you can make. It's important to be aware of all the fees associated with a mutual fund investment." Listen to the 6 minute FINRA podcast  (& check out other podcasts) at: http://www.finra.org/Investors/SmartInvesting/GettingStarted/Podcasts/MutualFundsETFs/P487257?utm_source=MM&utm_medium=email&utm_campaign=Investor_News_042414_FINAL

Be Aware of the Impact of Fund Fees

Are excessive financial fees eating your returns?  “Many investors are simply unaware of how much they are paying in fees. Morgan Housel notes how one friend wasn't aware that a 1.5% annual fee equated to a massive expense.” "Over Christmas, a family friend asked me to take a look at her finances. She's in her 60s, worked hard her whole life, and accumulated a couple of million dollars to retire on. She's had a financial adviser at one of the nation's largest banks for the past five years. I met him once; he's a nice guy. Smart, able, honest, and competent, he put my friend in a basket of investments -- mostly low-cost index funds, a few individual stocks, and a portfolio of bonds -- keeping her on track to enjoy a comfortable retirement.She's happy with her adviser. For the most part, I was, too. There's just one problem: He charges an incredible 1.5% of assets as his annual fee. I tried to explain to my friend how high this was, but my comments were met with a shoulder shrug. One and a half percent didn't sound like much to her.” BUT… “It was literally the single largest line item on her budget. More than her mortgage, more than her food bill, more than she spent on travel, clothes, entertainment, gifts, medical care, cars, and tuition for her kids." USA Today (2/24) What are you paying in investment fees? http://www.usatoday.com/story/money/personalfinance/2014/02/24/where-are-the-customers-yachts/5785353/