How to Talk to Your Clients About Fund Fees
Summary
When people go to a physical store, they don’t just buy what they see on the shelves; they pull out a smartphone and compare the store’s price against what Amazon or a number of other online-only retailers offer. Portfolio expenses have come into clear focus as passive investing advocates have made their case for low fee funds as the best option for most investors. You can weigh the pros and cons and discuss potential replacements as you show the prospect how you can save them money by moving them to lower fee alternatives. Often, making conversations focus on real dollars with clients can help those expenses resonate much more strongly than by simply looking at percentages. Understanding where the information you receive comes from—regardless of what tool you are using—will help you be prepared for any questions a prospective or current client may ask you about their portfolio’s fund fees.
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