by Adam English
Outsider Club
The jig is up, and everyone in the know saw it coming.
Fees, commissions, and self-serving sales pitches masquerading as fiduciary advice are now fully exposed for all to see.
Investors are fleeing actively-managed funds for passive ones, and — though they’d rather keep quiet and lie low until it’s their turn to move through the revolving door — even government regulators are being forced into action.
Yet as much as people talk about the shady side of the business, the cost is not the real cause. A handful of bad players have and always will be tolerated as long as the overall system isn’t broken.