It’s Even Worse Than I Thought

From Bloomberg:

About 33 percent of investors surveyed said they didn’t know how they pay for the investment advice they receive, and 31 percent said they thought their adviser or broker provided investment advice for free. Those who were unsure of how they pay for advice were most likely to be unhappy with their financial adviser, with 47 percent reporting dissatisfaction, the study said. About 27 percent of those who said they pay commissions reported being dissatisfied.

Thirty-one percent think their investment advice comes for free? Oh dear lord.

Posted by on June 8th, 2011 at 9:19 am


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