Quote:
Originally Posted by Slava
Its just not really true. I mean yes, there are advisors out there who tell you nothing or hide behind vague descriptions of the fees. There is new legislation that should effectively stop that practice though, and make things much more transparent.
I also think that advisors should be openly discussing how they get paid, and what they get paid. I know I have no qualms with that.
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I'd like a reform where you get an annual simple one page disclosure statement, that shows exactly to the penny what your advisor earned on your account, and exactly the growth of your portfolio (less your own contributions). I think that information is in the material I get now, but it is not easy to understand.