My attention was drawn by a reader to a piece on the Consumer Reports (www.consumerreports.org) website that fully backs up the comments I make in my “How to” articles about selecting an adviser and ensuring you actually get what you are paying for.
What is interesting about this is that it is from the USA. The basic message is exactly the same – the public don’t get proper disclosure of fees and services even though there is legislation in place that is supposed to make that happen.
One caveat, if you do read the US piece: organisations like Vanguard are cheap and crusaders for good value but they do rather over ‘package’ their investment offerings and you need to be sure of what you are getting. At times they are, in my view, adding risks that are not so well disclosed as their fees
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