If you’re paying Milford Funds or Fisher Funds 1.4% per year, that’s $1,400 for every $100,000 invested. Every year. For the rest of your life.
That adds up quick.
That’s one reason I started Simple Money. When fund fees are shown to the average consumer, suddenly it makes sense to pay $1,000, or $2,000 or even more for a fee-only and independent financial adviser.
If you have a million dollar portfolio, invested in high-fee funds, a fee-only financial planner can pay for themselves in the first year of advice.
And then you get to keep the fees you would have paid going forward. Could you use an extra $10,000 per year? Or do you want to give it to your adviser? Your choice.
To me, the choice seems Simple.
Run your own calculations in the calculator below and see what you can save.