Do-it-yourself investors are finally getting some love from the mutual fund industry.
A DIY investor is generally a fee-conscious investor, which means mutual funds are increasingly being bypassed in favour of cheaper exchange-traded funds. The mutual fund industry’s answer is the D-series fund, which has a much lower fee than conventional funds. This is made possible by stripping out advice fees. In a typical equity fund, a full percentage point of the management expense ratio goes to advisers and their firms.