Two speakers argue that 95-99% of financial advisors underperform the S&P 500 after fees. The average investor returned just 3.5% over 20 years, well below the market. You're paying more for worse results.
"95 to 96 or 99%" (Speaker A's stated range)
Approximately 3.5% (Speaker B)
The average American spends more money to have a money manager or a financial advisor manage their assets to make them a worse performance. 95 to 96 or 99% of them are spending more money, so they're draining their net worth. They're spending more money to get a worse performance than if they just went on Charles Schwab and invested in in the s and P500 index.
Excellent point. And I just read a report two days ago. Average investor averaged over the last 20 years 3 1/2% approximately. That's right. Market.
“Grit is Good” and How to Keep Getting up When Your Business Gets you Down
