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On your own: DIY investing is cheap for a reason

The cost of DIY investing has dropped like a stone in the past year or two, but the cost of using an adviser has been a lot more stubborn.

Still, some progress has been made in reducing the fees associated with having an adviser run your portfolio for you. Thank the exchange-traded fund industry for that. Intense competition between ETF providers has lowered the cost of investing in these products to the point where a simple but effective portfolio could cost you all of 0.15 per cent on an ongoing basis (read more on that here). This in turn has reduced costs for the clients of advisers who use ETFs.