If you were able to discern your portfolio's performance relative to the benchmarks from yesterdays blog, how did it stack up?
If you found that you were under-performing or even keeping up with the benchmark (especially over the longer-term), then it may be time to assess exactly what it is you are paying for with your fees and especially the hidden / embedded costs built in to ETF's and mutual funds.
Here are (what I consider to be) some of the key services that you should be looking for in the fees and costs that you incur:
1) Are you getting a financial plan and investing strategy that is specifically tailored to your needs?
2) Are you getting active or passive money management (or a combination of both)?
3) Are you getting the appropriate amount of communication?
Lots of things to think about when assessing what service you receive vs. the price that you pay.
But most importantly, ask yourself: Is this a good client experience? Am I getting good (or just mediocre) stewardship for my financial future?
It baffles me how some folks get hooked in to signing up and then are just left to drift in the hope of something better in the future (promises unfulfilled). Actually makes me kind of angry when I hear stories like that.
I say "Client First"!
Thanks for all the recent feedback friends, glad I can be of some help. Keep it coming....
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Scott Tomenson,CIM Managing Partner, Chief Investment Strategist