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A mutual fund manager is not the same as a private wealth manager. Robo-advisors are replacements for private wealth managers. For example, a robo-advisor could
by minimax 11y ago
A mutual fund manager is not the same as a private wealth manager. Robo-advisors are replacements for private wealth managers. For example, a robo-advisor could recommend a human-managed mutual fund, or a human wealth manager could recommend a low cost index fund. You are confused about the two roles.
- toomuchtodo 11y agoA mutual fund is almost always more expensive then an ETF, and rarely outperforms them. It should be criminal for mutual fund managers to charge 1% or more for their services, when they underperform broad indexes so frequently.
- minimax 11y agoI don't think I was making an argument about the cost of mutual funds vs ETFs, but claiming mutual funds are more expensive than ETFs is silly. There are high cost ETFs just like there are high cost mutual funds. You have to look at the expense ratios etc, etc...
- imjk 11y agoAgain, as OP pointed out, you're confusing wealth advisers with mutual fund managers.
- toomuchtodo 11y agoI'm not. A wealth advisor is a financial coach who is going to help guide you when you're a high net worth individual. A mutual fund manager is someone who tries to attribute luck to skill.