Despitegetting burned in 2008, investors keep coming back to advisers who cost them as much as 25% or more of theirinvestment income. (Calculate the average fee of 1½% of investment assets againstaverage investment income and you get an idea of what money advisers get from clients each year.)
The trend for using investment advisers appears to be growing; the factthese same folks were generally unable to help prevent the damage from past market debacles has not hurt adviser reputations.
You caneasily invest in low-cost index mutual funds and ETFs, using common sense as I always recommend. Avoid advisers, except for necessary lawyers, accountants and tax experts you may need. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewHole tweets.)
