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Many Pay High Investment Company Fees For Services They Don't Use, Survey Shows (consumerreports.org)
Penelope Wang, writing for Consumer Reports: If you are investing in stocks, bonds, or mutual funds, you have a wide range of options to help manage your portfolio -- everything from traditional brokerages to mutual fund companies to online financial firms. But as consumers search for an investment company, many pay little attention to the fees they're being charged, according to a just-released Consumer Reports survey of more than 46,000 CR members. Four out of 10 surveyed said they weren't sure what they paid in fees. And of those who knew the costs, only 60 percent rated their investment company in our survey as Excellent or Very Good on the amount charged.
"Hidden and confusing fees are proliferating across the marketplace, making it hard for consumers to know what they're getting for their money, and to comparison shop across providers," says Anna Laitin, director of financial policy at Consumers Union, the advocacy division of Consumer Reports. "It is concerning that so many investors don't know how much they are paying in fees and that many of those who do understand the fees don't appear to think they are getting their money's worth," she says.
"Hidden and confusing fees are proliferating across the marketplace, making it hard for consumers to know what they're getting for their money, and to comparison shop across providers," says Anna Laitin, director of financial policy at Consumers Union, the advocacy division of Consumer Reports. "It is concerning that so many investors don't know how much they are paying in fees and that many of those who do understand the fees don't appear to think they are getting their money's worth," she says.
Am I on the wrong website? Since when is this news for people who exchanged all their humanity for money?
Oh come on man. Look at the tech industry these days, not only has just about everyone given up on their humanity, they have also sold out their intellectual integrity and any morals they may have had for money, and the chance at a reasonably priced rental.
Seriously, just use Vanguard.
less than 10 basis points for alot of the mainstream indexes and no commissions...
Once you are kicked into the gutter it will be too late. There is short window where America's side into a third world country can be reversed, but it won't last long.
The current set of Republican grifters must be unseated and then prosecuted for their crimes. That, unfortunately, is only the beginning, because they will only be replaced by a different set of professional looters. The only way out of this mess is for voters to elect candidates who are more honest then what we have now. It's going to take decades, but it's that or dictatorship will prevail.
Why is Snark Required?
Since when is this news for people who exchanged all their humanity for money?
If the saying "early is on time, on time is late" had a corollary in personal economics, it would go something like this: "Investing is keeping up, saving is falling behind."
Investing is a normal activity for people to engage in, especially since interest rates on ordinary savings accounts haven't been keeping up with inflation for quite a while. I don't think you have to have exchanged all of your humanity for money to have some concern for how a confusing fee landscape might impact an ordinary mortal's putting money away for a rainy day/retirement. Nerds who have managed to get a little ahead might be very interested in understanding how to avoid being fleeced while investing.