There’s chatter in the investment industry that new rules requiring better disclosure of advice fees and portfolio returns have been a non-event with investors.
That’s wrong. In the 18 years I’ve been personal finance columnist at The Globe and Mail, I have never received as many queries from readers about fees and advice. Now that they know what they’re paying in dollars and cents to their advisory firms, investors are taking a more critical look at the advice they’re receiving. A good example is this comment from a reader: “I have approximately $80,000 in a registered mutual fund at one of the Big Five banks for which I have not received any advice for over three years.”Report Typo/Error