>who argued that surprisingly large portions of unsophisticated investors' funds were going to paying the management fees of financial products IMHO, the situa

>who argued that surprisingly large portions of unsophisticated investors' funds were going to paying the management fees of financial products IMHO, the situation cannot improve unless the "unsophisticated investors" are educated to have at least some semblance of investment savvy. You don't need any quant stuff at all. Even just some basic understanding of why a balanced portfolio makes sense, the power of compound returns, the impact of fees, the effect of taxes on your returns, the tax exposure nature of various securities, and a sense for what "financial products/funds" even exist in the financial universe would do.