Fees, Fees, and More Fees – The Death of a Portfolio

How a portfolio X-ray of an affluent, educated, and sophisticated Investor’s retirement account(s) showed how it was being chewed alive by hidden fees and commissions, threatening to end her retirement just as it was getting started.
palmer_portrait“The broker-dealer and its dually registered investment advisor representatives received way more compensation than the mere 0.85% annual amount they stated to Janet. Actual fees and commissions were much closer to 2.5%.”

Editor’s Note: This is a true story. Sadly, it’s not an unusual story. But it is quite unusual for such a bunch of dirty details about systematic, pedestrian investor abuses to surface in public. It took courage for Janet to volunteer these personal details, allowing each of us the opportunity to be better informed.

While helping an ex-Fortune 500 retiree prepare a financial disclosure document, we discovered that the recommendations being made by her broker were likely to cause her to outlive her portfolio.

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