You're getting downvoted, but this is exactly what happens with most active managers these days. Seriously, go to a local branch of a big bank, start a managed

You're getting downvoted, but this is exactly what happens with most active managers these days. Seriously, go to a local branch of a big bank, start a managed investment account, they'll give you a 1-1.5% fee portfolio and tell you about how well diversified and well organized it is for your risk level. And it is both those things! But dig into the investments and you'll see... Vanguard, Vanguard, iShares, Vanguard, Vanguard, iShares, Blackrock, Blackrock, iShares, etc. Sure there are traders on wall street looking to beat the index funds with manual trading, and these guys will always exist. But most active managers these days are just buying index funds and slapping on an useless fee. This is why when I pulled my money out of my bank's managed investment account and into a Vanguard account, I didn't suddenly change a portion of the market from active to passive investing, I just removed an unnecessary 1.25% fee that got me nothing and did nothing positive for the economy.